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Fly News Breaks for August 13, 2019
SIVB
Aug 13, 2019 | 07:23 EDT
JPMorgan analyst Steven Alexopoulos recently held investor meetings with SVB Financial CFO Dan Beck and found the tone of the meetings "very positive." The company is more positive than peer banks right now given the "significant actions" it has taken over the past two years to dampen its level of asset sensitivity combined with being the "dominant player" in banking the innovation industry, which is the fastest growing segment within the global economy, Alexopoulos tells investors in a research note titled "Meetings: A Tremendous Buying Opportunity With International Business a Hidden Asset; Overweight." The analyst recommends taking "full advantage of the opportunity" to buy SIV shares at the current valuation. Investors appear to be getting a "tremendous hidden asset in the form of its international operations today for free," says Alexopoulos. He keeps an Overweight rating on the shares with a $265 price target.
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