Oppenheimer analyst Dominick Gabriele maintained a Buy rating on SLM Corporation (SLM) yesterday and set a price target of $13. The company’s shares closed on Friday at $10.49.
Gabriele observed:
“We had the opportunity to meet with Raymond Quinlan (Chairman and CEO), Steven McGarry (EVP and Cronin (Head of Investor Relations) last week. Our key takeaway from our meeting: management is focused on driving earnings over +2-3 years through growth in student loan products while gaining efficiencies. Too much emphasis has been drawn to diversification plans that likely will not be a driving factor of EPS growth/drag over this time period. 2019 looks to be an inflection point for SLM becoming a capital generator rather than user. Given the return profile, a capital return program focused on dividends seems most likely. We recommend SLM to investors looking for exposure to the student lending space as it is the best positioned among peers.”
According to TipRanks.com, Gabriele is a 1-star analyst with an average return of -0.8% and a 55.6% success rate. Gabriele covers the Financial sector, focusing on stocks such as Credit Acceptance Corp, Santander Consumer USA, and Capital One Financial.
SLM Corporation has an analyst consensus of Moderate Buy, with a price target consensus of $13.63.
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The company has a one-year high of $12.46 and a one-year low of $9.65. Currently, SLM Corporation has an average volume of 2.49M.
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SLM Corp. engages in the origination, servicing, and administration of education loans. Its services include private education loans, banking, college savings, and insurance services. The company was founded in 1972 and is headquartered in Newark, DE.
