Scotiabank Increases Brookfield (NYSE:BN) Price Target to $69.00

Brookfield (NYSE:BN) had its price target lifted by analysts at Scotiabank from $65.00 to $69.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 21.50% from the company’s previous close.

Several other analysts also recently commented on the company. Royal Bank of Canada reduced their target price on Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Keefe, Bruyette & Woods upped their target price on Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research report on Friday, August 9th. BMO Capital Markets reissued an “outperform” rating and issued a $62.00 price target (up previously from $50.00) on shares of Brookfield in a research report on Friday. JPMorgan Chase & Co. upped their price objective on shares of Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, TD Securities lifted their price objective on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday, August 12th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Brookfield currently has an average rating of “Moderate Buy” and a consensus price target of $55.31.

Brookfield Stock Down 1.7 %

Shares of NYSE BN opened at $56.79 on Friday. Brookfield has a 12-month low of $33.61 and a 12-month high of $60.20. The company has a quick ratio of 1.03, a current ratio of 1.20 and a debt-to-equity ratio of 1.39. The firm has a market cap of $93.52 billion, a PE ratio of 120.83 and a beta of 1.53. The company’s fifty day simple moving average is $53.47 and its 200 day simple moving average is $47.71.

Hedge Funds Weigh In On Brookfield

Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in Brookfield during the second quarter worth $128,321,000. The Manufacturers Life Insurance Company increased its position in shares of Brookfield by 31.6% during the 3rd 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 last quarter. Capital World Investors raised its stake in shares of Brookfield by 5.1% during the 1st quarter. Capital World Investors now owns 51,922,031 shares of the company’s stock worth $2,173,923,000 after purchasing an additional 2,497,509 shares during the period. Wulff Hansen & CO. boosted its holdings in shares of Brookfield by 4,054.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,542,505 shares of the company’s stock worth $64,076,000 after buying an additional 1,505,372 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Brookfield by 1.9% during the first quarter. Vanguard Group Inc. now owns 57,480,308 shares of the company’s stock valued at $2,406,700,000 after buying an additional 1,063,110 shares during the period. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Company Profile

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.