Deutsche Bank Aktiengesellschaft Forecasts Strong Price Appreciation for Brookfield Asset Management (NYSE:BAM) Stock

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective lifted by Deutsche Bank Aktiengesellschaft from $51.00 to $56.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential downside of 1.69% from the stock’s current price.

A number of other research firms also recently weighed in on BAM. JPMorgan Chase & Co. reduced their target price on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. The Goldman Sachs Group lifted their price target on Brookfield Asset Management from $47.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, September 30th. CIBC increased their price objective on Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a report on Friday, July 19th. Bank of America boosted their target price on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Finally, Wells Fargo & Company upped their target price on shares of Brookfield Asset Management from $42.00 to $48.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $52.29.

Brookfield Asset Management Stock Up 2.5 %

NYSE:BAM opened at $56.96 on Tuesday. Brookfield Asset Management has a twelve month low of $30.59 and a twelve month high of $57.36. The stock has a market cap of $25.30 billion, a P/E ratio of 50.41, a price-to-earnings-growth ratio of 2.55 and a beta of 1.42. The firm’s fifty day simple moving average is $47.78 and its 200 day simple moving average is $42.55.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the firm posted $0.35 EPS. On average, analysts expect that Brookfield Asset Management will post 1.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. National Bank of Canada FI increased its position in shares of Brookfield Asset Management by 15.5% during the first quarter. National Bank of Canada FI now owns 801,163 shares of the financial services provider’s stock valued at $31,742,000 after acquiring an additional 107,245 shares in the last quarter. Confluence Investment Management LLC lifted its position in Brookfield Asset Management by 382.6% in the 2nd quarter. Confluence Investment Management LLC now owns 89,891 shares of the financial services provider’s stock valued at $3,420,000 after acquiring an additional 71,263 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in Brookfield Asset Management during the 1st quarter valued at $3,014,000. Intact Investment Management Inc. bought a new stake in shares of Brookfield Asset Management in the 2nd quarter worth $4,825,000. Finally, Pitcairn Co. purchased a new position in shares of Brookfield Asset Management in the first quarter worth $525,000. Institutional investors own 68.41% of the company’s stock.

About Brookfield Asset Management

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.