Valley National shares rise as Jefferies upgrades to 'buy'

** Shares of regional lender Valley National Bankcorp VLY.O rise 2.1% to $11.04 premarket after Jefferies upgrades to 'buy' from 'hold'

** Brokerage also raises PT to $14 from $11; new PT represents a nearly 30% rise from last close

** Brokerage believes VLY on path to achieve 15% Return on Tangible Common Equity (ROTCE) by mid-2028

** Brokerage says stabilizing commercial real estate (CRE) balance could help alleviate credit pressures that could also be aided by lower interest rates

** Jefferies says loan growth could accelerate from low-single digits in 2025 to mid-single digits or higher in 2026 and expects co to maintain strong expense control even as revenue increases helps to aid in VLY's profitability

** Nine of 12 brokerages rate the stock "buy" or higher, three "hold"; median PT is $11.75- data compiled by LSEG

** Up to last close, stock up nearly 20% YTD