SLM price target raised to $24 from $22 at RBC Capital

RBC Capital raised the firm’s price target on SLM to $24 from $22 and keeps an Outperform rating on the shares as part of a broader research note previewing Q1 results among Consumer Finance companies. The firm believes that the fundamentals for the group are driven by the final stages of credit normalization, with outlooks generally calling for peaking charge-offs by mid-year, the analyst tells investors in a research note. RBC adds that it continues to respect the macro uncertainty, which drives its “more selective” stock recommendations, though it also remains “cautiously optimistic” given favorable unemployment trends and GDP growth outlook.