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Fly News Breaks for April 29, 2019
SIVB
Apr 29, 2019 | 08:00 EDT
Maxim analyst Michael Diana lowered his price target on SVB Financial to $325 citing his reduced valuation on "best-in-class smid-cap banks" that models 14.1-times his FY20 earnings, down from 17.4-times his prior FY19 forecast, given the "less favorable interest rate environment." The analyst also keeps his Buy rating on the stock after the company's 7th consecutive "blowout quarter" and calls SVB Financial his "top pick among Smid-Cap banks over the long term."
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