Crypto bank silvergatebank was downgraded to market perform from outperform by one of the few remaining bullish analyst on the stock, citing limited visibility. by SteveAlpher and Aoyon_A
Silvergate Capital's rating was lowered to market perform from outperform on Tuesday by one of the few remaining bullish analysts on the stock, citing limited visibility on the crypto bank's outlook.
Analyst Michael Perito at investment bank Keefe, Bruyette & Woods also lowered the price target to $16 from $25, according to a research note sent to clients. "With limited earnings and fundamental visibility over the past two months, we believe a market perform rating is more reflective of the risk/reward profile for SI at this time, with a wide range of outcomes possible over the coming months," Perito wrote in the note.
However, the downgrade doesn't mean the analyst is giving up completely on the stock."As SI's shares have fallen, we have defended the bank's management, operating platform, role within FTX's platform, and strength of their balance sheet. We still feel validated on these positions," Perito wrote.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
The 12 Worst Toyotas Ever Made (Yes, Toyota Built Flops)The company is, overall, prone to winning—but sometimes, it loses.
Consulte Mais informação »
Jake Paul laughs off Drake curse after rapper loses $400K bet on himDrake couldn’t do something for Jake Paul.
Consulte Mais informação »
‘Dilbert’ creator loses comics distributor over racist remarksAdams’ fate was effectively sealed Sunday evening when “Dilbert” distributor Andrews McMeel Universal said it was severing ties to the cartoonist.
Consulte Mais informação »
‘Dilbert’ creator Scott Adams loses distributor over racist remarks“Dilbert” creator Scott Adams experienced possibly the biggest repercussion of recent racist comments when a major comics syndicator, which also operates the GoComics website, announced Sunday it would it would no longer work with the cartoonist.
Consulte Mais informação »
Family of man killed in San Antonio pit bull attack launches online fundraiser for funeral costsSan Antonio native Ramon Najera, 81, died after being attacked by three pit bulls Friday. SanAntonio SATX SanAntonioTX Texas CrimeNews
Consulte Mais informação »
Disney Loses Control Of Special District to Florida Gov. Ron DeSantisThe Gov. on Monday named five new members to the district's governing body: 'There's a new sheriff in town.'
Consulte Mais informação »