Brookfield Asset Management (NYSE:BAM) Price Target Raised to $66.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target boosted by TD Securities from $64.00 to $66.00 in a research report released on Monday,BayStreet.CA reports. TD Securities currently has a buy rating on the financial services provider’s stock.

Other analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft raised their target price on Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Royal Bank of Canada raised their target price on Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Wells Fargo & Company lowered their target price on Brookfield Asset Management from $56.00 to $55.00 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. Scotiabank lifted their price target on Brookfield Asset Management from $59.50 to $63.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 3rd. Finally, CIBC lifted their price target on Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $56.58.

Brookfield Asset Management Price Performance

NYSE:BAM opened at $55.10 on Monday. The business’s 50-day moving average is $56.45 and its two-hundred day moving average is $50.86. Brookfield Asset Management has a 12 month low of $37.29 and a 12 month high of $62.61. The firm has a market capitalization of $24.42 billion, a PE ratio of 48.76, a price-to-earnings-growth ratio of 2.18 and a beta of 1.46.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. Equities analysts anticipate that Brookfield Asset Management will post 1.45 EPS for the current year.

Hedge Funds Weigh In On Brookfield Asset Management

Large investors have recently bought and sold shares of the business. Hara Capital LLC bought a new position in Brookfield Asset Management in the third quarter worth about $27,000. RPg Family Wealth Advisory LLC bought a new position in Brookfield Asset Management in the third quarter worth about $27,000. Truvestments Capital LLC raised its holdings in shares of Brookfield Asset Management by 487.2% during the fourth quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock valued at $27,000 after buying an additional 419 shares during the last quarter. Mountain Hill Investment Partners Corp. bought a new stake in shares of Brookfield Asset Management during the fourth quarter valued at approximately $32,000. Finally, Versant Capital Management Inc raised its holdings in shares of Brookfield Asset Management by 1,606.3% during the fourth quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock valued at $44,000 after buying an additional 771 shares during the last quarter. Institutional investors 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.