SLM Corp. (SLM) PT Raised to $27 at Wells Fargo

Wells Fargo analyst Michael Kaye raised the price target on SLM Corp. (NASDAQ: SLM) to $27.00 (from $24.00) while maintaining a Overweight rating.

The analyst comments "The Stock—Heading into Q2 earnings we had been anticipating a positive credit update (see SLM: Q2'24 Earnings Preview and SLM: June ABS Update) and we were encouraged by the positive commentary. We continue to see tailwinds for the stock incl. 1) credit improvement momentum given early success of new loan modification & extended grace programs, 2) market share opportunities with Discover's exit and 3) sound fundamentals (NIM, opex, etc.). Reiterate Overweight rating."

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