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Fly News Breaks for December 10, 2019
SLM, NAVI
Dec 10, 2019 | 16:16 EDT
Stephens analyst Vincent Caintic initiated coverage of Navient (NAVI) with an Equal Weight rating and $17 price target. Shares are adequately priced for future cash flows coming from the "melting ice cube" of Navient's portfolio of government guaranteed student loans as well as Navient's smaller platforms of private student lending and payments/collections, contends Caintic, who sees risks that include politics and growth initiatives that divert cash flow away from capital return toward acquisitions. He would prefer owning Sallie Mae (SLM), on which he has an Overweight rating, over Navient on a growth basis, Caintic added.
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