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Fly News Breaks for April 30, 2018
SIVB
Apr 30, 2018 | 09:33 EDT
SunTrust analyst Jennifer Demba raised her price target on SVB Financial to $335 and also raised her FY18 EPS forecast to $16.94 after the company's Q1 earnings beat. Demba says the revisions reflect SVB Financial's asset sensitivity and fee income growth, adding that its earnings trends will remain strong as long as the Fed rate hike cycle continues. The analyst keeps her Buy rating, further noting the management's ongoing numerous initiatives to increase deposit growth.
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