SVB Financial price target raised to $190 from $186 at Morgan Stanley

Morgan Stanley analyst Manan Gosalia raised the firm’s price target on SVB Financial to $190 from $186 and keeps an Underweight rating on the shares. Gosalia and fellow analyst Betsy Graseck said bank management comments last week show that their thesis for accelerating deposit costs is playing out, but even faster than they’d anticipated, leading them to take down EPS estimates by a median 2% for Q4.