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Fly News Breaks for January 24, 2020
Jan 24, 2020 | 08:09 EDT
Oppenheimer analyst Dominick Gabriele downgraded Sallie Mae to Perform from Outperform. In a research note to investors, Gabriele says that he thinks it is time to step aside and take long-fought-for profits following the company's Q4 results. As Sallie Mae switches essentially from loan growth to buybacks, the net effect of run-rate EPS excluding gains from portfolio sales is fairly similar to 2021's previous expectations, but it likely chases away shorts, Gabriele contends.
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