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Navient Corp (NASDAQ:NAVI) ended the third quarter with an adjusted cash position of $572 million, or $5.35 per share.
That’s adjusted for an unsecured debt maturity and $65 million worth of share repurchases expected in the fourth quarter, according to Seaport Research Partners.
The Navient Analyst: Analyst Bill Ryan upgraded the rating for Navient from Neutral to Buy, while establishing a price target of $18.
The Navient Thesis: The consumer lending segment is valued at 7X of the 2025 estimate for the company, or $12.50 per share, Ryan said in the …
Full story available on Benzinga.com
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