Barclays analyst Terry Ma lowered the firm’s price target on Navient to $11 from $13 and keeps an Underweight rating on the shares. The company’s Q1 results missed estimates and the earning guidance was lowered as net interest margin continues to face additional headwinds, the analyst tells investors in a research note. The firm thinks Navient’s issues and the execution risk around the cost reduction plans will continue to weigh on the shares going forward.
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