UPDATE: Piper Jaffray Starts East West Bancorp (EWBC) at Overweight

(Updated - June 12, 2015 8:06 AM EDT)

Piper Jaffray initiated coverage on East West Bancorp (NASDAQ: EWBC) with an Overweight rating and a price target of $50.00.

Analyst Matthew Clark commented, "We initiate coverage of EWBC with an Overweight rating and a $50 target largely based on growth prospects that can still exceed expectations, top-tier returns that should only expand with higher rates, and a multiple that does not reflect its scarcity value associated with being one of the few banks operating in two of the world’s largest economies (California and China)."

For an analyst ratings summary and ratings history on East West Bancorp click here. For more ratings news on East West Bancorp click here.

Shares of East West Bancorp closed at $45.02 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• BRF - Brasil Foods S.A. (BRFS3:BZ) (BRFS) PT Raised to BRL19 at Itau BBA
• Stifel Starts Mirum Pharamceuticals (MIRM) at Buy
• Alphabet (GOOGL) PT Raised to $174 at Stifel