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Fly News Breaks for July 30, 2019
SIVB
Jul 30, 2019 | 06:22 EDT
JMP Securities analyst Christopher York lowered his price target on SVB Financial to $275, saying that while its Q2 earnings topped expectations, the beat was driven by the "volatile" non-interest income. The analyst keeps his Outperform rating on the stock but also lowers his FY20 EPS view to $20.83 from $22.38, adding that his new price target reflects base interest rate assumptions of two FOMC interest rate cuts this year.
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