JPMorgan thinks there's a buying opportunity in regional bank Valley National.
The bank upgraded Valley National Bancorp to overweight from neutral Monday with a $10 per share price target. JPMorgan's forecast implies 25% upside from the stock's $8 close on Friday. Analyst Steven Alexopoulos noted that Valley National's exposure to the commercial real estate market is reasonably below peers which could shield the firm from loan headwinds.
2mm ," Alexopoulos said. The analyst added that, "Given the focus of the bank on its own local suburban office markets and on developing relationships with borrowers, it is common for the bank to ask for personal guarantees which is a valuable tool to bring borrowers to the table in the situation of stress." Valley National shares have tanked more than 29% in 2023.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Shawn Johnson: 25 Things You Don't Know About Me!Olympic gold medalist Shawn Johnson dished to Us Weekly about her favorite family moments and more — exclusive
Les mer »
25 graduates complete RCMP Indigenous Pre-Cadet Training ProgramThe three week program gives young adults between 19-29 a chance to experience cadet life within the RCMP at Depot Division. RCMP Sask
Les mer »
Natalie Portman's Husband Cheated With a 25-Year-Old—Inside His AffairThis is everything we know so far.
Les mer »
25 Vintage Photos of San Antonio's LGBTQ HistoryWith Pride celebrations happening across San Antonio all month long, we decided to look back at the city's LGBTQ history. Older generations lived out and proud, and largely helped make the Alamo City the LGBTQ-friendly city it is today.
Les mer »