Navient price target lowered to $16 from $20 at Stephens

Stephens lowered the firm’s price target on Navient to $16 from $20 and keeps an Equal Weight rating on the shares. The firm has lowered its expectations for student loan origination volume following the reassessment of capital deployment, the analyst tells investors. Currently, Stephens’ confidence in its forward estimates is low and Navient needs to provide a strategic update on how it sees its operations going forward.