BMO Capital Markets Raises Brookfield Asset Management (NYSE:BAM) Price Target to $50.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price increased by research analysts at BMO Capital Markets from $40.00 to $50.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. BMO Capital Markets’ target price points to a potential downside of 12.22% from the stock’s current price.

A number of other equities analysts also recently issued reports on the company. JPMorgan Chase & Co. cut their price target on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. TD Securities lifted their target price on Brookfield Asset Management from $50.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Jefferies Financial Group assumed coverage on Brookfield Asset Management in a report on Friday, August 2nd. They set a “hold” rating and a $43.00 price target for the company. Bank of America raised their price objective on Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Brookfield Asset Management from $51.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $52.29.

Brookfield Asset Management Stock Up 2.5 %

Shares of 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’s 50 day moving average is $47.78 and its 200-day moving average is $42.55. The firm has a market capitalization of $25.30 billion, a price-to-earnings ratio of 50.41, a PEG ratio of 2.55 and a beta of 1.42.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS 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 business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the business posted $0.35 EPS. Equities research analysts anticipate that Brookfield Asset Management will post 1.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BAM. Hara Capital LLC purchased a new position in Brookfield Asset Management in the third quarter valued at approximately $27,000. Massmutual Trust Co. FSB ADV lifted its position in shares of Brookfield Asset Management by 98.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock valued at $30,000 after buying an additional 385 shares during the last quarter. Continuum Advisory LLC grew its stake in shares of Brookfield Asset Management by 57.6% during the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 285 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in Brookfield Asset Management by 574.2% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 758 shares during the last quarter. Finally, Richardson Financial Services Inc. raised its stake in Brookfield Asset Management by 368.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 755 shares during the period. 68.41% of the stock is owned by institutional investors.

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.