SLM price target raised to $22 from $21 at RBC Capital

RBC Capital analyst Jon Arfstrom raised the firm’s price target on SLM to $22 from $21 and keeps an Outperform rating on the shares. The company’s Q4 results saw core trends reflecting a lower gain from loan sales this quarter, relatively stable spread revenues, and lower core expense levels, the analyst tells investors in a research note. SLM’s 2024 outlook also appears consistent, with improving loan origination and loss dynamics and modestly higher expenses, the firm added.