JPMorgan upgraded SLM (SLM) to Overweight from Neutral with a price target of $38, up from $29. The One Big Beautiful Bill he eliminated Grad Plus loans, which JPMorgan estimates totaled $14B in 2024, the analyst tells investors in a research note. The firm expects a portion of the Grad Plus market to shift towards private student lenders. JPMorgan estimates a $3B-$4B market opportunity for SLM. It cites the Grad Plus opportunity for the upgrade of the shares.
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