Raymond James analyst David Long raised the firm’s price target on SVB Financial to $285 from $260 and keeps an Outperform rating on the shares. Long "applauds" the strong loan growth in Q4 and preemptive reserve build, but expects negative Street EPS revisions as NIM guide disappointed and VC/PE investment trends remain challenging, the analyst tells investors in a research note. Any signs of a trough in VC market activity could be viewed as a positive catalyst for shares, but volatility is likely in the near-term, Long contends.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on SIVB:
- SVB Financial reports Q4 EPS $4.62, consensus $5.27
- SVB Capital II options imply 7.1% move in share price post-earnings
- SVB Financial names Kim Olson as Chief Risk Officer
- SVB Financial price target lowered to $308 from $411 at Barclays
- Early notable gainers among liquid option names on December 29th
