UPDATE: Goldman Sachs Starts BankUnited (BKU) at Buy

(Updated - August 7, 2015 9:43 AM EDT)

Goldman Sachs initiated coverage on BankUnited (NYSE: BKU) with a Buy rating and a price target of $43, suggesting potential upside of 18%.

Analyst Ryan M. Nash said, "BKU is a fast growing regional bank that is benefitting from: 1) significant market share opportunities in NYC; 2) a robust deposit engine across its footprint; and 3) a set of national businesses that are driving growth. While accretion run-off has masked its true growth, 2Q15 will likely mark the trough for EPS and will likely lead to investors valuing BKU closer to a fast-growing regional bank. This, along with generating 20+% core EPS growth, should drive upside to its multiple. Longer-term M&A provides optionality given CEO John Kanas’s history of creating shareholder value."

For an analyst ratings summary and ratings history on BankUnited click here. For more ratings news on BankUnited click here.

Shares of BankUnited closed at $36.49 yesterday.

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