Brookfield (NYSE:BN) Price Target Raised to $71.00 at Scotiabank

Brookfield (NYSE:BN) had its price target upped by equities research analysts at Scotiabank from $69.00 to $71.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 20.75% from the company’s current price.

A number of other research analysts have also recently issued reports on the company. CIBC lifted their price objective on Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research note on Thursday, January 23rd. Morgan Stanley started coverage on Brookfield in a research note on Thursday, January 23rd. They set an “overweight” rating and a $80.00 price objective for the company. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $62.00 price objective (up previously from $50.00) on shares of Brookfield in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $60.28.

Brookfield Stock Down 3.9 %

Shares of BN traded down $2.40 on Monday, reaching $58.80. The stock had a trading volume of 476,441 shares, compared to its average volume of 2,299,400. The company has a 50-day simple moving average of $58.68 and a 200-day simple moving average of $53.73. The firm has a market capitalization of $96.77 billion, a price-to-earnings ratio of 125.15 and a beta of 1.57. Brookfield has a 12-month low of $38.18 and a 12-month high of $62.78. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.03 and a current ratio of 1.17.

Institutional Trading of Brookfield

Several institutional investors have recently made changes to their positions in the business. CIBC Asset Management Inc grew its position in shares of Brookfield by 6.2% during the fourth quarter. CIBC Asset Management Inc now owns 14,178,133 shares of the company’s stock worth $814,585,000 after purchasing an additional 823,428 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Brookfield by 31.6% during the third quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock valued at $623,783,000 after buying an additional 2,818,716 shares during the last quarter. EdgePoint Investment Group Inc. boosted its stake in Brookfield by 1.7% during the third quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock valued at $611,383,000 after buying an additional 196,790 shares during the last quarter. Toronto Dominion Bank boosted its stake in Brookfield by 23.4% during the third quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock valued at $364,152,000 after buying an additional 1,301,072 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake 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 last quarter. 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.