Fly News Breaks for June 3, 2019
Jun 3, 2019 | 07:44 EDT
Wedbush analyst Henry Coffey notes that Sallie Mae stock's performance has been "dismal" over the last two years, despite significant growth in EPS and loan balances, and favorable trends in credit. College costs are rising, not falling, and his expectation is that Sallie Mae will continue to find paths of education-related lending that will allow it to support loan growth of 12%-15% a year and EPS growth of at least 12%. Coffey reiterates an Outperform rating and $13 price target on the shares and says he would be a buyer of the stock at current levels.
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