Credit Suisse Upgrades SIVB To Outperform

Credit Suisse has upgraded SVB Financial Group SIVB from Neutral to Outperform. According to Credit Suisse, "Overwhelmingly Positive Results from our Survey of Technology and Venture Capital Professionals: Our survey, combined with the Credit Suisse Technology teams view of healthy tech spending in the coming years, leads us to believe that the current cycle for both (1) venture capital exits and (2) early-to-mid stage tech revenue growth will prove to be more profitable (for SIVB) than current investor expectations." SIVB has a $61.00 Price Target and closed at $54.82 on Friday.