Jefferies lowered the firm’s price target on Navient (NAVI) to $12 from $14 and keeps a Hold rating on the shares ahead of the company reporting Q1 results on April 29. The firm, which looks forward to the call to hear more detail regarding FY25 and beyond as the regulatory landscape “may tilt in NAVI’s favor,” expects the focus to be on net interest margin and origination trends; other revenue and business unit sales; floor income hedges; operating expense trends; and shifting regulatory factors.
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