Navient downgraded to Underweight from Equal Weight at Barclays

Barclays analyst Terry Ma downgraded Navient to Underweight from Equal Weight with a price target of $14, down from $17. The analyst thinks setup into the Q4 reports for the consumer lenders may be more challenging given that valuations are now closer to historical averages. The firm lowered 2024 estimates the most for Navient and downgraded the shares.