BankUnited price target raised to $45 from $42 at Wells Fargo

Wells Fargo raised the firm’s price target on BankUnited (BKU) to $45 from $42 and keeps an Overweight rating on the shares. The firm cites a strong quarter, with group-high DDA growth, net interest margin expansion, and $100M buyback program accelerating path to 10%-plus ROTCE. Wells says that Credit was the only negative, with large spike in NPLs. Many paths for upside remain, including the potential for M&A, the firm adds.