Why Silvergate Capital Stock Shot Higher Again Today

For the second day in a row, the stock of Silvergate Capital (NYSE: SI) saw a pronounced lift. Shares of the next-generation bank with the tight focus on cryptocurrencies rose by over 3% on Wednesday, thanks to not one but two analyst price-target raises.

This morning, Craig-Hallum prognosticator George Sutton added $10 to his level for Silvergate stock, placing its new target at $160 per share. In doing so, Sutton maintained his buy recommendation on the shares.

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Source Fool.com