Navient price target raised to $18 from $17 at Citi

Citi raised the firm’s price target on Navient to $18 from $17 and keeps a Neutral rating on the shares post the Q4 report. Navient’s in-depth review results in significant cost cuts and likely exiting its Business Processing segment with advisors hired to review potential divestment, the analyst tells investors in a research note. The firm applied a higher multiple to reflect strategic action optionality.