Wells Fargo cut its rating on SLM (NASDAQ:SLM) to Equal Weight from Overweight, citing persistent credit issues that have "damaged" the management's credibility.
"We do not see visible catalysts to move the shares higher, and we think it will take time to regain investor confidence," said analyst Michael Kaye.
https://seekingalpha.com/news/3932007-slm-cut-to-equal-weight-at-wells-fargo-on-persistent-credit-issues