Market Overview

UPDATE: Credit Suisse Initiates BankUnited at Neutral on Valuation

Share:
Related BKU
Benzinga's Top Upgrades
JP Morgan Upgrades BankUnited To Overweight

Credit Suisse initiated coverage on BankUnited (NYSE: BKU) with a Neutral rating and a $23 price target.

Credit Suisse said, "We are initiating coverage of BankUnited, Inc. with a Neutral rating based on valuation, with the shares trading at 1.0x adjusted TBV, and in light of recent bids that suggest CEO Kanas may need to remain at the helm to deploy BKU's excess capital in metro New York before a sale can occur. We believe it may not be until the end of 2016, when ROEs can reach mid-double digits after earnings trough from covered loan run-off in 2013."

BankUnited closed at $23.22 on Monday.

Latest Ratings for BKU

DateFirmActionFromTo
Jul 2015JP MorganUpgradesNeutralOverweight
Jun 2015BarclaysMaintainsOverweight
Apr 2015Keefe Bruyette & WoodsDowngradesOutperformMarket Perform

View More Analyst Ratings for BKU
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Initiation Intraday Update Analyst Ratings

 

Related Articles (BKU)

Around the Web, We're Loving...

Get Benzinga's Newsletters