BofA Bullish On Silicon Valley Bank & Wine “Niche”

Bank of America has rated Silicon Valley Bank (Nasdaq: SIVB) at the top of its “Buy” list of three banks its analysts have begun following. The other two are Iberiabank Corp (Nasdaq: IBKC) and Texas Capital Bankshares (Nasdaq: TCBI)

“SIVB is our Top Pick among the Buy rated names. We believe valuations have further room to re-rate higher as earnings growth benefits from a booming innovation sector and expectations for an eventual rise in short rates.”
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Also In This Article:

• WINE TO REMAIN SMALL NICHE MARKET

• YEAR OVER YEAR GROWTH PROJECTIONS

• MODEST CONSUMER DEMAND, WEAK PRICING POWER

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