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Barclays Raises Estimates on SLM Corp. (SLM); Buyback Announcement A Surprise Catalyst

May 30, 2012 1:46 PM EDT Send to a Friend
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Price: $9.07 -0.77%

Rating Summary:
    6 Buy, 2 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 24 | New: 21
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Barclays reiterates an 'Overweight' on SLM Corp. (NASDAQ: SLM) price target of $18.00.

Analyst, Mark C. DeVries, said, "SLM announced a $400mm addition to the existing repurchase authorization after the close Tuesday that we believe was generally unexpected by the market...after adding another $400mm of buybacks (roughly 27mm shares), we are raising our estimates for 2012 and 2013 to $2.19 and $2.28, from $2.17 and $2.24, respectively."

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 $13.80 yesterday.

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