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Fly News Breaks for January 10, 2018
SIVB
Jan 10, 2018 | 08:11 EDT
Maxim analyst Michael Diana raised his price target on SVB Financial to $300, citing the positive impact from the lower U.S. corporate tax rates. Diana notes that SVB has "one of the highest tax rates among banks" and would benefit from the 21% tax rate reform. The analyst also sees the potential increase in SIFI - systemically important financial institution - threshold to $250B from $50B as incrementally positive for the bank, which is well below that size. Diana keeps his Buy rating on SVB Financial.
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