SLM price target raised to $19 from $18 at Compass Point

Compass Point raised the firm’s price target on SLM to $19 from $18 and keeps a Buy rating on the shares. The firm is updating its model and estimates for SLM going into Q2 earnings. SLM has a historical trend of significantly increasing the pace of share repurchases after completing large loan sales, says the firm, which notes a $2B loan sales completed in Q2 and an additional $1B is expected in Q3, which it says “could continue to be a source of support and upside.”