JPMorgan raised the firm’s price target on SLM to $18 from $16 and keeps an Overweight rating on the shares following the investor forum. The firm believes the wide range of 2024 and 2025 estimates reflects a broad array of assumptions by analysts contemplating SLM’s transition. The company plans to grow its balance sheet at a more gradual pace than expected, translating to higher revenues, elevated share repurchases, and less drag on near-term earnings from growth-driven reserve build, the analyst tells investors in a research note.
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