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Credit Suisse on Thursday morning initiated on
Salle MaeSLM with an Outperform rating and $11 price target.
Mosche Orenbuch said, "We anticipate this rapid growth period will last for at least the next five years given that the bank has about $7.5B of loans today with only 15% of loans in repayment and originations growing from an estimated $4.1B in 2014 to $4.9B in 2016."
Credit Suisse also forecasts industry-wide private student loan originations to rise in the coming years, from $8.3B in 2014-15 to $9.6 billion in 2015-2016.
The analyst warned that Sallie Mae is subject to some regulatory risk, though would likely be unaffected by a FFELP refinancing program.
Shares of Sallie Mae closed Wednesday at $25.78.
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