Morgan Stanley Upgrades Sallie Mae to Overweight with Raised Price Target
Morgan Stanley upgraded its rating for Sallie Mae (SLM) from Equal-weight to Overweight, raising the price target to $30.00 from $28.00. The move comes as analysts believe shares are undervalued amid macroeconomic and credit concerns. During pre-market trading on Monday, Sallie Mae's stock rose 3.02% to $23.20 following the upgrade. Analysts noted that despite recent market pressures, they see an improving investment setup for the company.
Tickers: $SLM
Topics: pre-market trading price target increase stock upgrade