JP Morgan Downgrades Valley Ntl to Neutral, Lowers Price Target to $10
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Steven Alexopoulos has downgraded Valley National (NASDAQ:VLY) from Overweight to Neutral and lowered the price target from $11 to $10.
October 30, 2023 | 9:35 am
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Valley National's stock rating has been downgraded by JP Morgan from Overweight to Neutral, with a reduced price target of $10.
The downgrade from JP Morgan, a major financial institution, could negatively impact investor sentiment towards Valley National. The lowered price target suggests that JP Morgan expects the stock's future performance to be less robust than previously anticipated. This could lead to a short-term decrease in the stock's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100