JP Morgan Downgrades SLM to Neutral, Raises Price Target to $20
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Richard Shane has downgraded SLM Corporation (NASDAQ:SLM) from Overweight to Neutral but increased the price target from $18 to $20. The adjustment reflects a more cautious stance on the stock while acknowledging some positive expectations for its performance.
January 04, 2024 | 12:25 pm
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NEUTRAL IMPACT
SLM Corporation was downgraded by JP Morgan from Overweight to Neutral, indicating a shift to a more cautious outlook, but the price target was raised from $18 to $20, suggesting some positive sentiment.
The downgrade to Neutral suggests that JP Morgan sees limited upside potential or increased risks that could cap the stock's performance in the short term. However, the increase in the price target to $20 indicates that the analyst still sees some room for the stock to grow, albeit at a potentially slower pace than previously expected. Investors may interpret the downgrade as a sign to be more cautious, while the price target raise could provide some support to the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100