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Goldman Sachs Terminates Coverage on SVB Financial Group (SIVB)
March 10, 2023 1:37 PM ESTGoldman Sachs Terminates Coverage on SVB Financial Group (NASDAQ: SIVB)
Analyst Ryan Nash comments "Effective immediately, we are dropping coverage on SVB Financial Group."
... MoreStifel Lays Out Biotech Names Exposure to SVB Financial Group (SIVB)
March 10, 2023 1:12 PM ESTStifel analyst Dae Gon Ha comments "Repercussions of the SVB fallout is dominating headlines and naturally, the majority of our covered companies being unprofitable, pre-commercial companies, stocks under our coverage universe are down sharply today. We have reached out to the respective management teams and are reassured that the impact could be, at least for now, less catastrophic. Of course,... More
SVB Financial Group (SIVB) falls another 42% in pre-open trading
March 10, 2023 6:09 AM ESTSVB Financial Group (NASDAQ: SIVB) continues lower on worries about deposit outflows:
shares down another 42% to $61 early Fridayshares fell 60% on Thursdaythe company is seeking to raise $2.25 billion in equity after selling securities at a loss to shore up its... MoreSVB Financial (SIVB) PT Lowered to $177 at JPMorgan, 'What to Do with SIVB Shares Post the Sell-Off and Industry Read-Through'
March 10, 2023 5:36 AM ESTJPMorgan analyst Steven Alexopoulos lowered the price target on SVB Financial (NASDAQ: SIVB) to $177.00 (from $270.00) while maintaining a Overweight rating.
The analyst comments "SIVB shares declined 60% in response to the intra-quarter update as well as a number of strategic actions being announced. While the mid-quarter update from the company pointed to an incremental $5B of deposit outflows anticipated during 1Q23, on the surface this did not appear dramatic enough to warrant the company having also announced that it had sold $21B of AFS securities (which triggered a $1.8B loss being recognized). With the... More
