BofA analyst Nathaniel Richam-Odoi lowered the firm’s price target on Navient (NAVI) to $16 from $17 and keeps a Neutral rating on the shares after the company announced tan agreement to sell its Government Services business to Gallant Capital Partners. While the firm views the announcement and terms as “a slight positive,” it notes that its 2024 estimate is below guidance of $2.45-$2.50 and consensus at $2.48, primarily on the sale.
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