Update: Stifel Nicolaus Raises PT to $58 on SVB Financial
Stifel Nicolaus maintains its Buy rating on SVB Financial (NASDAQ: SIVB) and raises its price target by $3 to $58 on strong performance in 2011 and similar prospects for 2012.
Stifel Nicolaus says, "Following a quarter of higher loan growth than expected, we are increasing our FY12E by $0.17 to $3.36 per share and our FY13E by $0.10 to $3.85 per share. We note that revised guidance and our estimates could prove conservative given 4Q trends and momentum in technology and expected performance in foreign markets."
SIVB closed at $53 a share on Thursday.
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