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Fly News Breaks for July 1, 2019
EWBC
Jul 1, 2019 | 07:12 EDT
Morgan Stanley analyst Ken Zerbe upgraded East West Bancorp to Overweight from Equal Weight, citing his view that concern about the impact of China tariffs on the bank's borrowers is "fair, but overstated." Zerbe, who also cited the bank's above-peer profitability, stronger loan growth and attractive valuation, trimmed his price target on the stock to $57 from $59.
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