DA Davidson has revised its price target for East West Bancorp (EWBC, Financial), reducing it from $118 to $100, while maintaining a Buy rating on the stock. The firm notes that the company exceeded expectations with its net interest margins in the first quarter, which contributed to a better-than-anticipated performance against market forecasts.
Despite lowering the price target, DA Davidson highlights that East West Bancorp’s revenue projections remain consistent. The firm suggests that the bank's outlook for net interest income might be conservative, taking into account the strong first-quarter results. This assessment also considers potential changes in Federal Reserve interest rate policies throughout the year, which could influence future earnings.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 12 analysts, the average target price for East West Bancorp Inc (EWBC, Financial) is $104.92 with a high estimate of $118.00 and a low estimate of $90.00. The average target implies an upside of 17.19% from the current price of $89.53. More detailed estimate data can be found on the East West Bancorp Inc (EWBC) Forecast page.
Based on the consensus recommendation from 13 brokerage firms, East West Bancorp Inc's (EWBC, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for East West Bancorp Inc (EWBC, Financial) in one year is $79.49, suggesting a downside of 11.21% from the current price of $89.53. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the East West Bancorp Inc (EWBC) Summary page.
