Brookfield (NYSE:BN) Coverage Initiated at Morgan Stanley

Equities researchers at Morgan Stanley began coverage on shares of Brookfield (NYSE:BN) in a report released on Thursday,Benzinga reports. The firm set an “overweight” rating and a $80.00 price target on the stock. Morgan Stanley’s target price would indicate a potential upside of 30.96% from the company’s previous close.

Several other brokerages have also recently issued reports on BN. CIBC lifted their target price on shares of Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a report on Thursday. Scotiabank lifted their target price on shares of Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a report on Friday, November 15th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $62.00 target price (up from $50.00) on shares of Brookfield in a report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.06.

Brookfield Stock Up 2.5 %

Shares of Brookfield stock opened at $61.09 on Thursday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.03 and a current ratio of 1.17. The stock has a market capitalization of $100.54 billion, a PE ratio of 129.97 and a beta of 1.56. Brookfield has a 52-week low of $38.18 and a 52-week high of $62.44. The company has a 50-day simple moving average of $58.30 and a two-hundred day simple moving average of $53.08.

Institutional Trading of Brookfield

Large investors have recently added to or reduced their stakes in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Brookfield by 131.9% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 463,125 shares of the company’s stock valued at $24,594,000 after buying an additional 263,375 shares during the period. PNC Financial Services Group Inc. grew its position in Brookfield by 5.7% during the third quarter. PNC Financial Services Group Inc. now owns 183,698 shares of the company’s stock valued at $9,764,000 after buying an additional 9,915 shares during the period. Geode Capital Management LLC grew its position in Brookfield by 10.9% during the third quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock valued at $320,670,000 after buying an additional 591,757 shares during the period. Charles Schwab Investment Management Inc. grew its position in Brookfield by 10.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company’s stock valued at $189,507,000 after buying an additional 351,231 shares during the period. Finally, Partners Group Holding AG grew its position in Brookfield by 53.5% during the third quarter. Partners Group Holding AG now owns 409,303 shares of the company’s stock valued at $21,754,000 after buying an additional 142,603 shares during the period. 61.60% of the stock is currently owned by institutional investors.

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.