Morgan Stanley Sees Growth Story Remain Intact For BankUnited

In a report published Wednesday, Morgan Stanley analyst Ken A. Zerbe reiterated an Overweight rating and $39.00 price target on

. In the report, Morgan Stanley noted, “We believe the market is undervaluing the long-term EPS growth potential at BankUnited. We expect material market share gains in lending in both NY and FL, driving above-average loan growth and above-peer profitability. On 2017e EPS, the shares are trading well below our 15.5x normalized P/E multiple that we believe is appropriate given its growth.” BankUnited closed on Tuesday at $34.16.