Sallie Mae Corporation (NASDAQ:SLM) stock is trading higher on Wednesday. Bank of America Corporation (NYSE:BAC) initiated coverage of the student loan provider with a Buy rating and set a price target of $27. The Details: Sallie Mae currently holds a 58% market share in private student loans, however, the bank indicates there’s room for growth, describing the lender as “poised for market share gains.” Bank of America points to growth in college enrollment, increase in the price of college and competitors leaving the student loan market to support its market share growth belief. Specifically, …