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Fly News Breaks for July 8, 2019
SIVB
Jul 8, 2019 | 08:35 EDT
As previously reported, Raymond James analyst William Wallace downgraded SVB Financial to Market Perform from Strong Buy based on expectations the Fed will cut interest rates twice in 2019. Wallace notes SVB is among the most asset-sensitive banks under coverage and sees a material risk to the company's NIM guidance and earnings estimates.
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