Fly News Breaks for January 24, 2020
Jan 24, 2020 | 06:31 EDT
Citi analyst Arren Cyganovich removed Sallie Mae from Citi's US Focus List while raising the stock's price target to $14 from $11. The analyst maintains a Buy rating on the shares. Despite the 29% increase in the stock Thursday, Cyganovich believes there should be additional upside over the next year for the shares. Sallie Mae's decision to sell loans at a gain and repurchase shares "should provide solid support for the shares over the intermediate term," says the analyst. The removal from the Focus List reflects the stock's strong recent returns.
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