Wedbush Securities analyst Henry Coffey has upgraded his rating on Navient Corp.'s stock to "outperform" from "neutral" in light of the company's new line of business reporting that provides added insight to its earnings outlook.
The analyst increased Navient's stock price target to $15.75 from $14.50. Navient is expected to report modest EPS growth, favorable returns on and of capital and a total return in excess of 18% over the next 18 months.
Coffey raised Navient's EPS estimate to $1.92 from $1.90 for 2018, and to $1.95 from $1.88 for 2019. Navient's EPS estimate for 2020 was raised to $1.98 from $1.83 by the analyst.
