SLM Corp's stock surged 6.78% during pre-market trading on Friday, reflecting strong positive sentiment from Wall Street analysts.
The education finance company received multiple analyst upgrades and price target increases. Wells Fargo raised its target price to $32 from $30, Deutsche Bank increased its target to $40 from $37, and JP Morgan lifted its target to $26 from $25. Additionally, TD Cowen analyst Moshe Orenbuch reiterated a Buy rating on SLM, citing strong credit trends, strategic loan sales, and above-consensus EPS growth projections through 2027.
These positive analyst actions follow the company's recent strong fourth-quarter earnings report, which showed a 29% year-over-year increase in GAAP diluted EPS and the announcement of a new $500 million share repurchase program, further bolstering investor confidence in the company's financial health and growth prospects.
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