Wells upgrades BankUnited on potential for takeout under Trump

Wells Fargo analyst Timur Braziler upgraded BankUnited (BKU) to Overweight from Equal Weight with a price target of $48, up from $38. The firm says a “merger resurgence” is likely post election, as highlighted at its bank and regulatory summit yesterday. Banks should be more willing to do deals given pent-up demand, scale benefits and likely faster approvals, the analyst tells investors in a research note. Wells upgraded BankUnited and included the bank in its “basket of takeover selections.”