Truist analyst Jennifer Demba raised the firm’s price target on SVB Financial to $269 from $250 and keeps a Buy rating on the shares. The analyst notes that 2023 will be a transition year for SVB, though she also expects VC investment conditions to improve once rates stabilize and with more economic clarity emerging. The innovation economy is better positioned to weather a downturn than in past cycles, and SVB Financial shares look "compelling at 11.4-times expected forward earnings, Demba tells investors in a research note.
Published first on TheFly
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