SLM price target lowered to $31 from $40 at Jefferies

Jefferies lowered the firm’s price target on SLM (SLM) to $31 from $40 and keeps a Buy rating on the shares. The firm is acknowledging the emerging concerns around the company’s ABS performance, though its management has also recently reaffirmed credit guidance as they tightened the origination guide due to tightened underwriting and market conditions, the analyst tells investors in a research note. The focus for the quarter could be on credit commentary and outlook, the firm added.