Compass Point Reiterates Buy On SLM (SLM ), Comments On Dept. Of Ed. Results

November 21, 2012 2:39 PM EST
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Price: $10.96 -3.52%

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    11 Buy, 3 Hold, 0 Sell

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    Up: 35 | Down: 31 | New: 10
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Analyst at Compass Point reiterate our Buy rating on lender SLM Corp. (NASDAQ: SLM ) after the Department of Education released performance results for its F1Q13 servicing allocation study.

Analyst Michael Tarkan noted SLM posted stronger relative performance in the survey categories "which would help its overall annual allocation," though the company remains in last place behind Great Lakes, FedLoan Servicing, and Nelnet (NYSE: NNI).

Tarkan pointed out that the Department of Education remains a relatively small piece of SLM's business, but adds incremental to revenue every year.

Compas Point has a $21 price target on SLM.

For an analyst ratings summary and ratings history on SLM Corp. click here. For more ratings news on SLM Corp. click here.

Shares of SLM Corp. closed at $16.85 yesterday.

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