Jefferies Boosts Numbers On SVB Financial (SIVB), Keeps Hold
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Price: $106.04 --0%
Rating Summary:
11 Buy, 18 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
11 Buy, 18 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Jefferies raised estimates and its price target on SVB Financial (NASDAQ: SIVB) from $57 to $60 following a meeting with management.
The firm comments, "Overall tone from our meeting with CFO Mike Deschenaux was uniformly positive with encouraging commentary on loan pipelines, NIM outlook, capital adequacy and credit quality. While there is no clarity on whether SIVB holds Facebook warrants, we view the offering as a big positive regardless given the potential for wealth creation. Only sticking point is valuation (at 18x 2012 EPS), which limits upside and keeps us at Hold."
Jefferies raised Q1 EPS from $0.64 to $0.69, FY12 from $3.15 to $3.35 and FY13 from $3.50 to $3.80.
For an analyst ratings summary and ratings history on SVB Financial click here. For more ratings news on SVB Financial click here.
Shares of SVB Financial closed at $59.57 yesterday.
The firm comments, "Overall tone from our meeting with CFO Mike Deschenaux was uniformly positive with encouraging commentary on loan pipelines, NIM outlook, capital adequacy and credit quality. While there is no clarity on whether SIVB holds Facebook warrants, we view the offering as a big positive regardless given the potential for wealth creation. Only sticking point is valuation (at 18x 2012 EPS), which limits upside and keeps us at Hold."
Jefferies raised Q1 EPS from $0.64 to $0.69, FY12 from $3.15 to $3.35 and FY13 from $3.50 to $3.80.
For an analyst ratings summary and ratings history on SVB Financial click here. For more ratings news on SVB Financial click here.
Shares of SVB Financial closed at $59.57 yesterday.
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