CIBC Raises Brookfield (NYSE:BN) Price Target to $70.00

Brookfield (NYSE:BN) had its price objective increased by analysts at CIBC from $68.00 to $70.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “outperformer” rating on the stock. CIBC’s target price would indicate a potential upside of 14.59% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. BMO Capital Markets reaffirmed an “outperform” rating and set a $62.00 target price (up previously from $50.00) on shares of Brookfield in a report on Friday, November 15th. Scotiabank upped their price objective on shares of Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.06.

Brookfield Price Performance

Brookfield stock opened at $61.09 on Thursday. Brookfield has a 52-week low of $38.18 and a 52-week high of $62.44. The firm has a market capitalization of $100.54 billion, a price-to-earnings ratio of 129.97 and a beta of 1.56. The company has a fifty day simple moving average of $58.30 and a 200-day simple moving average of $53.08. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 1.40.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company lifted its position in shares of Brookfield by 31.6% during the third quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock worth $623,783,000 after purchasing an additional 2,818,716 shares in the last quarter. EdgePoint Investment Group Inc. lifted its position in shares of Brookfield by 1.7% during the third quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock worth $611,383,000 after purchasing an additional 196,790 shares in the last quarter. Toronto Dominion Bank lifted its position in shares of Brookfield by 23.4% during the third 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 in the last quarter. Geode Capital Management LLC lifted its position in shares of Brookfield by 10.9% during the third quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock worth $320,670,000 after purchasing an additional 591,757 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Brookfield by 10.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company’s stock worth $189,507,000 after purchasing an additional 351,231 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

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.