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

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price lifted by research analysts at Scotia from $59.00 to $60.50 in a research report issued on Monday, BayStreet reports. The brokerage currently has a “sector outperform” rating on the financial services provider’s stock. Scotia‘s target price would indicate a potential upside of 11.22% from the company’s previous close.

Several other brokerages also recently commented on BAM. Piper Sandler upped their price target on shares of Brookfield Asset Management from $49.00 to $52.00 and gave the company a “neutral” rating in a report on Monday. National Bank Financial boosted their target price on Brookfield Asset Management from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft upped their target price on Brookfield Asset Management from $48.00 to $50.00 and gave the company a “hold” rating in a research note on Thursday, August 6th. Morgan Stanley set a $54.00 price target on Brookfield Asset Management in a research note on Friday, October 16th. Finally, Weiss Ratings upgraded Brookfield Asset Management from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Asset Management presently has an average rating of “Moderate Buy” and an average target price of $57.41.

Brookfield Asset Management Trading Up 2.7%

NYSE BAM traded up $1.45 on Monday, hitting $54.40. 1,270,977 shares of the stock were exchanged, compared to its average volume of 3,163,933. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. Brookfield Asset Management has a 52-week low of $42.20 and a 52-week high of $55.97. The firm has a market capitalization of $89.12 billion, a P/E ratio of 18.63, a P/E/G ratio of 2.24 and a beta of 1.27. The stock has a fifty day moving average price of $47.18 and a two-hundred day moving average price of $47.86.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Saturday, November 7th. The financial services provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.01. The business had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $1.60 billion. Brookfield Asset Management had a net margin of 71.24% and a return on equity of 32.71%. Research analysts forecast that Brookfield Asset Management will post 1.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Brookfield Asset Management

A number of hedge funds and other institutional investors have recently modified their holdings of BAM. TD Waterhouse Canada Inc. lifted its holdings in Brookfield Asset Management by 6.3% during the second quarter. TD Waterhouse Canada Inc. now owns 5,003,128 shares of the financial services provider’s stock worth $227,422,000 after buying an additional 294,966 shares during the period. Nykredit A S bought a new stake in Brookfield Asset Management during the 2nd quarter valued at $3,451,000. Liontrust Investment Partners LLP purchased a new position in shares of Brookfield Asset Management in the 1st quarter valued at $11,161,000. Baird Financial Group Inc. increased its holdings in shares of Brookfield Asset Management by 131.4% in the 2nd quarter. Baird Financial Group Inc. now owns 45,809 shares of the financial services provider’s stock valued at $2,054,000 after acquiring an additional 26,011 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Brookfield Asset Management by 18.8% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 276,777 shares of the financial services provider’s stock worth $12,339,000 after acquiring an additional 43,748 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors.

About Brookfield Asset Management

Brookfield Asset Management is a global alternative asset manager that invests in and manages assets on behalf of institutional and private wealth clients. Its investment strategies span infrastructure, renewable power and transition, private equity, real estate, and credit.

The company operates across North America, South America, Europe, the Middle East, and Asia-Pacific. Its businesses invest in and manage assets such as energy and transportation infrastructure, renewable power facilities, real estate, and companies across a range of industries.

Brookfield Asset Management became a separately listed company in 2022, following the separation of Brookfield Corporation’s asset management business.