Analysts Are Upgrading These 5 Stocks

2. SVB Financial Group (NASDAQ:SIVB)

Number of Hedge Fund Holders: 49    

SVB Financial Group (NASDAQ:SIVB) is placed second on our list of 10 stocks that analysts are upgrading. The company provides an array of financial services and is headquartered in California. 

On September 17, investment advisory Wedbush upgraded SVB Financial Group (NASDAQ:SIVB) stock to Outperform from Neutral and raised the price target to $700 from $600, noting that the firm had delivered several blowout quarters by emphasizing on innovation.

At the end of the second quarter of 2021, 49 hedge funds in the database of Insider Monkey held stakes worth $1 billion in SVB Financial Group (NASDAQ:SIVB), the same as in the previous quarter worth $1.2 billion.

In its Q1 2021 investor letter, Artisan Partners, an asset management firm, highlighted a few stocks and SVB Financial Group (NASDAQ:SIVB) was one of them. Here is what the fund said:

“Among our top contributors was SVB Financial. SVB Financial Group is a leading provider of banking services to the innovation economy across the US and in key international markets. Headquartered in Silicon Valley, SVB offers financial products to clients in the technology, life science/health care and private equity/venture capital. Total client funds increased 51% to $243 billion in 2020—one of the company’s strongest years—as investors seek differentiated returns in innovative private companies. SVB’s high level of client service and long experience in the industry give it not only a historical data and knowledge advantage, but also a reputational edge. We believe this enables the company to quickly bring products to market and make speedy underwriting decisions. Given SVB’s strong profit growth comes at a time when net interest margins are depressed, we believe shares are priced attractively and added to our position.”