TD Securities Forecasts Strong Price Appreciation for Brookfield (NYSE:BN) Stock

Brookfield (NYSE:BN) had its price target lifted by equities researchers at TD Securities from $74.00 to $75.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ price objective would suggest a potential upside of 28.43% from the stock’s current price.

Several other equities analysts also recently issued reports on BN. Scotiabank increased their price objective on shares of Brookfield from $69.00 to $71.00 and gave the company a “sector outperform” rating in a report on Monday, February 3rd. BMO Capital Markets reiterated an “outperform” rating and issued a $62.00 price objective (up from $50.00) on shares of Brookfield in a report on Friday, November 15th. Morgan Stanley initiated coverage on Brookfield in a report on Thursday, January 23rd. They set an “overweight” rating and a $80.00 target price for the company. Finally, CIBC lifted their price target on Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research note on Thursday, January 23rd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

Brookfield Price Performance

Shares of Brookfield stock traded down $1.00 on Tuesday, reaching $58.40. The company’s stock had a trading volume of 359,831 shares, compared to its average volume of 2,157,863. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $96.11 billion, a P/E ratio of 124.26 and a beta of 1.57. The stock has a 50-day moving average price of $58.50 and a 200-day moving average price of $54.28. Brookfield has a 52-week low of $38.18 and a 52-week high of $62.78.

Hedge Funds Weigh In On Brookfield

Institutional investors and hedge funds have recently bought and sold shares of the company. CIBC Asset Management Inc raised its position in shares of Brookfield by 6.2% during the 4th quarter. CIBC Asset Management Inc now owns 14,178,133 shares of the company’s stock valued at $814,585,000 after buying an additional 823,428 shares during the period. The Manufacturers Life Insurance Company raised its position in Brookfield by 31.6% in the third quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock valued at $623,783,000 after purchasing an additional 2,818,716 shares during the period. EdgePoint Investment Group Inc. lifted its stake in shares of Brookfield by 1.7% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock valued at $611,383,000 after purchasing an additional 196,790 shares during the last quarter. Toronto Dominion Bank grew its holdings in shares of Brookfield by 23.4% during the 3rd quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock worth $364,152,000 after purchasing an additional 1,301,072 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Brookfield by 11.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,507,113 shares of the company’s stock worth $373,527,000 after purchasing an additional 668,630 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.

About Brookfield

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.