Societe Generale price target raised to EUR 16.80 from EUR 16.30 at Barclays » 15:0701/2201/22/21
Barclays analyst Omar…
Barclays analyst Omar Fall raised the firm's price target on Societe Generale to EUR 16.80 from EUR 16.30 and keeps an Underweight rating on the shares.
SVB Financial price target raised to $550 from $440 at JPMorgan » 09:5101/2201/22/21
JPMorgan analyst Steven…
JPMorgan analyst Steven Alexopoulos raised the firm's price target on SVB Financial to $550 from $440 and keeps an Overweight rating on the shares. The company's Q4 results from "demonstrated yet again that this is the bank of the innovation economy," Alexopoulos tells investors in a research note. The analyst continues to see SVB as a "dominant player" in the regional banking industry which should see "years of continued outsized top and bottom line growth."
SVB Financial price target raised to $508 from $494 at RBC Capital » 08:3601/2201/22/21
RBC Capital analyst Jon…
RBC Capital analyst Jon Arfstrom raised the firm's price target on SVB Financial to $508 from $494 and keeps an Outperform rating on the shares. The company reported "favorable" core trends with its Q4 earnings beat that featured a very robust balance sheet growth and healthy fee income, the analyst tells investors in a research note.
SVB Financial price target raised to $400 from $325 at Wells Fargo » 07:0101/2201/22/21
Wells Fargo analyst Jared…
Wells Fargo analyst Jared Shaw raised the firm's price target on SVB Financial to $400 from $325 and keeps an Equal Weight rating on the shares. While Shaw continues to think there is downside risk, with shares trading at double the industry multiple, "you can't argue with results," he says. Growth in 2020 was "exceptional," and Shaw says the trends seem to be supported to continue into 2021.
Fly Intel: After-Hours Movers » 18:3501/2101/21/21
SIVB, WAL, INDB, OZK, FLDM, MNOV, SWIR, ALDX, AMRN, IBM, STX, PPG, ISRG, CSX, PGEN, ACB, F
Check out this evening's…
SVB Financial reports Q4 EPS $7.40, consensus $3.83 » 16:1201/2101/21/21
Reports Q4 net interest…
Reports Q4 net interest margin 2.40% vs. 3.26% a year ago.
BNY Mellon price target raised to $49 from $43 at RBC Capital » 07:0601/2101/21/21
RBC Capital analyst…
RBC Capital analyst Gerard Cassidy raised the firm's price target on BNY Mellon to $49 from $43 but keeps a Sector Perform rating on the shares. The analyst notes that the company has had to endure a low interest rate environment, which has driven down its net interest margin, increased money market fee waivers, and bloated its balance sheet over the last 12 months. Cassidy adds however that the Federal Reserve's action to lift the suspension of bank stock buybacks should enable the company to "unlatch the hatches" and start returning the excess capital to shareholders.
BNY Mellon earnings selloff a 'bit overdone,' says Citi » 06:2901/2101/21/21
Citi analyst Keith…
Citi analyst Keith Horowitz lowered the firm's price target on BNY Mellon to $55 from $57 and keeps a Buy rating on the shares. The post-earnings selloff in the shares "felt to be a bit overdone," Horowitz tells investors in a research note. While flat fee growth year-over-year is "tough to swallow" in context of expenses up 1.5%, excluding the fee waivers, fee growth should be up 3% year-over-year, meaning 150 basis points of positive fee leverage "which is a decent outlook," Horowitz tells investors in a research note.
Erste Group Bank price target raised to EUR 28 from EUR 25 at JPMorgan » 11:5801/2001/20/21
JPMorgan analyst Samuel…
JPMorgan analyst Samuel Goodacre raised the firm's price target on Erste Group Bank to EUR 28 from EUR 25 and keeps an Overweight rating on the shares.
Haemonetics acquires Cardiva Medical for over $475M » 06:5001/2001/20/21
HAE, MC, JPM
Haemonetics announced that it has entered into a definitive agreement to acquire privately-held Cardiva Medical an industry-leading manufacturer of vascular closure systems based in Santa Clara, California. Under the terms of the agreement, Haemonetics will acquire Cardiva for an upfront cash payment of $475M at closing and up to an additional $35M in contingent consideration based on sales growth. The acquisition is subject to customary closing conditions and is expected to be completed in the Q1. Cardiva's portfolio includes two catheter-based vascular access site closure devices. The acquisition is expected to deliver about $65M-$75M of revenue in the first fiscal year. The transaction is expected to be dilutive to adjusted net earnings per diluted share by (15c)-(20c) in FY22 and about neutral to adjusted net earnings per diluted share in fiscal year 2023. The acquisition is expected to deliver a rate of return on invested capital of 10% by year five. Haemonetics plans to finance this acquisition through a combination of cash, existing revolving credit facility and an additional $150M term loan. Following this acquisition, the Company debt to EBITDA ratio, as calculated in accordance with the terms set forth in the Company's existing Credit Agreement, is expected to be approximately 3.2. Moelis & Company (MC) is serving as financial advisor to Haemonetics and DLA Piper is serving as legal advisor. Additionally, J.P. Morgan (JPM) Securities is acting as financial advisor to Cardiva and Cooley is serving as legal advisor.