Navient price target lowered to $18 from $19 at Citi

Citi lowered the firm’s price target on Navient to $18 from $19 and keeps a Neutral rating on the shares ahead of the Q3 report. The analyst expects consumer finance companies to see additional net interest margin compression near-term as the firm expects one more rate hike and a higher for longer interest rate environment. Credit quality, while still weakening, continues to hold in better than expected and the outlook “remains cautiously positive” given a still-strong employment environment, the analyst tells investors in a research note.