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Fly News Breaks for January 27, 2020
Jan 27, 2020 | 09:02 EDT
SunTrust analyst Jennifer Demba raised her price target on SVB Financial to $293 and kept her Buy rating, saying its Q4 revenue and loan loss provision were better than expected. The analyst also notes that the company's strong balance sheet growth offset the compression in its net interest margins, while its asset quality remained "excellent". Demba adds that at 11.9-times her expected FY21 earnings relative to the peer median multiple of 10-times, SVB Financial shares are still attractive based on the company's growth profile.
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