Navient price target lowered to $18 from $19 at Compass Point

Compass Point analyst Giuliano Bologna lowered the firm’s price target on Navient to $18 from $19 and keeps a Neutral rating on the shares. The new income driven repayment, or IDR, plan called Saving on a Valuable Education, or SAVE, could drive accelerated FFELP loan repayments, says the analyst, who is updating the firm’s model and providing some insight into this new potential near-term risk, which the firm believes “makes it harder to justify a bullish stance until this plays out.”