Will This Coverage Initiation Help Navient (NAVI) Stock Today? (Update)

NEW YORK (TheStreet) -- Barclays initiated coverage on Navient  (NAVI) with an "equal weight" rating and an $18 price target. The firm cited long-tail of net interest income from loan portfolios, stable earnings from servicing/collections and significant capital returns as the reasons for the move.

The stock was up 0.35% to $17.06 at 9:42 a.m. on Friday.

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