BUZZ-BankUnited rises after Wells Fargo upgrade, PT raise

Reuters11-13

** Shares of BankUnited 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))

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