Valley National initiated with a Buy at UBS

UBS analyst Nicholas Holowko initiated coverage of Valley National (VLY) with a Buy rating and $15 price target The firm sees Valley on track to achieving a more than 3.30% net interest margin in 2027, narrowing the gap between its current 11.5% ROTCE and its 15% goal, the analyst tells investors in a research note. UBS thinks above-peer EPS growth prospects and improving profitability should support multiple expansion over the next 12 months.