Text size
Wedbush reiterated its Outperform call on Roku stock.
Dreamstime
The biggest bank failure since the global financial crisis has clobbered stocks, but Wall Street analysts see buying opportunities in some of the stocks affected by Silicon Valley Bank’s collapse.
The closures of Silicon Valley Bank, Signature Bank, and Silvergate Bank in the past week have led to a broader market rout and concerns about the health of the overall financial system. But that hasn’t stopped analysts from making some bullish calls this week on battered financial stocks like
Charles Schwab
(ticker: SCHW) and on companies that held money at the collapsed Silicon Valley Bank, such as
Roku
(ROKU).
Citi
on Monday reiterated its Buy rating on shares of Bill Holdings (BILL), which provides financial automation software for businesses. Analyst Andrew Schmidt lowered its price target on the stock to $108, down from $131 previously, citing selling pressure. Bill said Saturday it has about $670 million held at Silicon Valley Bank, and said its existing cash was sufficient to meet its working capital and other requirements.
Schmidt said he sees Bill as a rare pure play on business-to-business commerce digitization, which should drive long-term opportunity. Plus, Bill ultimately would recover all deposits, albeit with some transition costs, he said. Bill stock was up nearly 2% on Tuesday to $75 after jumping 8% on Monday. It slid 15% on Friday.
Roku is another company that held money at Silicon Valley Bank, with approximately 26% of its cash and…
..
