Brookfield Asset Management (NYSE:BAM) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price lifted by Keefe, Bruyette & Woods from $44.00 to $49.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “underperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective points to a potential downside of 13.97% from the company’s current price.

A number of other research firms have also weighed in on BAM. Wells Fargo & Company boosted their target price on shares of Brookfield Asset Management from $48.00 to $51.00 and gave the stock an “underweight” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft boosted their price objective 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. The Goldman Sachs Group raised their target price on Brookfield Asset Management from $47.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Scotiabank upped their price target on Brookfield Asset Management from $45.50 to $55.50 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Bank of America increased their price target 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. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $52.29.

Brookfield Asset Management Stock Up 2.5 %

Shares of BAM stock 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 fifty day simple moving average is $47.78 and its 200 day simple moving average is $42.55. The firm has a market capitalization of $25.30 billion, a P/E ratio of 50.41, a P/E/G ratio of 2.55 and a beta of 1.42.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the business posted $0.35 earnings per share. As a group, equities research analysts expect that Brookfield Asset Management will post 1.43 EPS for the current fiscal year.

Institutional Trading of Brookfield Asset Management

Several hedge funds have recently modified their holdings of BAM. Bank of Nova Scotia Trust Co. grew its holdings in Brookfield Asset Management by 4.4% in the first quarter. Bank of Nova Scotia Trust Co. now owns 6,202 shares of the financial services provider’s stock worth $261,000 after purchasing an additional 263 shares during the period. CWM LLC boosted its position in shares of Brookfield Asset Management by 12.2% during the 2nd quarter. CWM LLC now owns 2,448 shares of the financial services provider’s stock worth $93,000 after purchasing an additional 267 shares in the last quarter. Choate Investment Advisors grew its stake in shares of Brookfield Asset Management by 3.3% in the 1st quarter. Choate Investment Advisors now owns 8,900 shares of the financial services provider’s stock valued at $374,000 after buying an additional 285 shares during the period. Continuum Advisory LLC grew its stake in shares of Brookfield Asset Management by 57.6% in the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock valued at $30,000 after buying an additional 285 shares during the period. Finally, Foundations Investment Advisors LLC increased its position in Brookfield Asset Management by 5.0% in the 3rd quarter. Foundations Investment Advisors LLC now owns 6,654 shares of the financial services provider’s stock valued at $315,000 after buying an additional 315 shares in the last quarter. 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.