UPDATE: Credit Suisse Initiates Coverage on SLM Corp. with Outperform Rating, $11 PT as Growth Engine is Worth a Premium

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In a report published Thursday, Credit Suisse analyst Moshe Orenbuch initiated coverage on
SLM Corp.SLM
with an Outperform rating and $11.00 price target. In the report, Credit Suisse noted, “We are initiating coverage of the new SLM Corp, also known as Sallie Mae Bank, with an Outperform rating. Sallie Mae Bank is a fast growing, highly profitable, mid-cap bank specializing in making student loans to undergraduate and graduate students. (The new SLM is the shell from which Navient Corp. has been spun off.)” SLM Corp. closed on Wednesday at $9.26.
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Posted In: Analyst ColorInitiationAnalyst RatingsCredit SuisseMoshe Orenbuch
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