As previously reported, Wells Fargo analyst Jared Shaw downgraded SVB Financial to Market Perform from Outperform and lowered his price target on the shares to $240 from $280 as he believes the rate environment will become increasingly problematic for the most asset sensitive bank in his coverage universe. While the analyst still likes the business model and management team at SVB Financial and believes they are in a unique position to remain in the center of the innovation economy hub, falling short-term rates will make revenue growth more difficult.