BMO Capital analyst James Fotheringham raised the firm’s price target on Navient to $19 from $17 but keeps a Market Perform rating on the shares. The company’s Q4 net interest income missed expectations, but its FY23 outlook exceeded estimates on lower expected operating expenses and stable net interest margins, the analyst tells investors in a research note. The firm added however that a neutral stance is warranted by revenue headwinds amid a shrinking balance sheet as well as policy risks around student loan forgiveness and CFPB proactivity.
Published first on TheFly
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Read More on NAVI:
- Navient sees FY23 core EPS $3.15-$3.30, consensus $2.92
- Navient reports Q4 adjusted EPS 85c, consensus 83c
- Navient posts fourth quarter 2022 financial results
- Navient price target raised to $17 from $14.50 at JPMorgan
- Navient to announce fourth quarter 2022 results on Jan. 24, host earnings webcast on Jan. 25
