Brookfield Asset Management (NYSE:BAM) Stock Price Expected to Rise, TD Securities Analyst Says

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective upped by TD Securities from $64.00 to $66.00 in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the financial services provider’s stock. TD Securities’ target price would indicate a potential upside of 15.87% from the stock’s previous close.

Several other research firms have also weighed in on BAM. Scotiabank lowered their price target on Brookfield Asset Management from $62.50 to $58.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 7th. Wells Fargo & Company lifted their target price on Brookfield Asset Management from $48.00 to $54.00 and gave the stock an “underweight” rating in a report on Wednesday. Morgan Stanley cut their price target on Brookfield Asset Management from $62.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th. StockNews.com upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Tuesday, April 15th. Finally, BMO Capital Markets boosted their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a research note on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Brookfield Asset Management presently has a consensus rating of “Moderate Buy” and an average target price of $58.77.

Brookfield Asset Management Stock Up 2.1 %

Shares of NYSE BAM opened at $56.96 on Wednesday. The company’s fifty day moving average is $49.60 and its 200-day moving average is $53.99. The stock has a market cap of $93.26 billion, a price-to-earnings ratio of 43.15, a P/E/G ratio of 1.92 and a beta of 1.56. Brookfield Asset Management has a twelve month low of $37.29 and a twelve month high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.40. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. On average, research analysts anticipate that Brookfield Asset Management will post 1.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Brookfield Asset Management

A number of hedge funds have recently added to or reduced their stakes in the company. Truvestments Capital LLC lifted its position in Brookfield Asset Management by 487.2% in the 4th quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 419 shares in the last quarter. Rossby Financial LCC bought a new position in Brookfield Asset Management in the 1st quarter valued at $28,000. ST Germain D J Co. Inc. bought a new position in Brookfield Asset Management during the first quarter valued at about $26,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Brookfield Asset Management during the 4th quarter worth approximately $32,000. Finally, NewEdge Advisors LLC raised its stake in shares of Brookfield Asset Management by 61.0% in the fourth quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider’s stock valued at $47,000 after buying an additional 325 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Company Profile

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.