BankUnited rises after Wells Fargo upgrade, PT raise

BankUnited

13/11/2024 14:48

** Shares of BankUnited  BKU.N  up 2.8% at $40.90 in early
trade 
    ** Brokerage Wells Fargo upgrades BKU to overweight from
equal weight and raises price target to $48 from $38
    ** Brokerage believes BKU is going through balance sheet
transformation which should help the bank achieve improved
profitability
    ** To these efforts we add an improved M&A landscape and a
management team that has been as pragmatic as any towards the
potential for partnering with a larger institution - Wells Fargo
    ** Two of 11 brokerages rate the stock "buy" or higher, 8
"hold" and 1 "sell"; their median PT is $38 - LSEG 
    ** As of last close, BKU has gained ~23% YTD

 (Reporting by Pritam Biswas in Bengaluru)
 ((Pritam.Biswas@thomsonreuters.com))