Morgan Stanley Cuts Brookfield Asset Management (NYSE:BAM) Price Target to $50.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target reduced by equities research analysts at Morgan Stanley from $62.00 to $50.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective suggests a potential upside of 4.65% from the stock’s previous close.

BAM has been the topic of a number of other research reports. StockNews.com downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Monday, April 7th. Bank of America raised shares of Brookfield Asset Management from a “neutral” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Thursday. Keefe, Bruyette & Woods lowered their price objective on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research report on Monday, January 13th. Scotiabank dropped their target price 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. Finally, Wells Fargo & Company lowered their price target on shares of Brookfield Asset Management from $50.00 to $48.00 and set an “underweight” rating for the company in a research report on Tuesday, April 8th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $57.15.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM traded up $0.47 during mid-day trading on Monday, hitting $47.78. 676,119 shares of the company traded hands, compared to its average volume of 1,443,348. The firm has a market cap of $78.23 billion, a P/E ratio of 36.20, a PEG ratio of 1.92 and a beta of 1.63. The firm’s 50 day simple moving average is $51.89 and its 200 day simple moving average is $53.62. Brookfield Asset Management has a 52-week low of $37.29 and a 52-week high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. Equities research analysts expect that Brookfield Asset Management will post 1.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Brookfield Asset Management

Institutional investors have recently added to or reduced their stakes in the company. Truvestments Capital LLC boosted its holdings in shares of Brookfield Asset Management by 487.2% in the 4th quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 419 shares in the last quarter. ST Germain D J Co. Inc. bought a new stake in shares of Brookfield Asset Management during the first quarter worth $26,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Brookfield Asset Management in the fourth quarter valued at about $32,000. Versant Capital Management Inc grew its holdings in Brookfield Asset Management by 1,606.3% during the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 771 shares during the last quarter. 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 worth $47,000 after acquiring an additional 325 shares during the last quarter. 68.41% of the stock is owned by institutional investors.

About Brookfield Asset Management

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.