BMO Capital Markets Forecasts Strong Price Appreciation for Brookfield Asset Management (NYSE:BAM) Stock

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target increased by equities research analysts at BMO Capital Markets from $50.00 to $53.00 in a report issued on Thursday,BayStreet.CA reports. The firm currently has a “market perform” rating on the financial services provider’s stock. BMO Capital Markets’ price target indicates a potential downside of 7.62% from the company’s current price.

A number of other equities analysts also recently commented on the stock. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Thursday, January 9th. The Goldman Sachs Group increased their price target on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a report on Monday, November 11th. Royal Bank of Canada increased their price target on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, Scotiabank cut their price target on shares of Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating for the company in a report on Thursday. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Brookfield Asset Management currently has a consensus rating of “Hold” and an average target price of $56.71.

Brookfield Asset Management Stock Up 4.1 %

NYSE:BAM traded up $2.25 during trading hours on Thursday, reaching $57.37. 783,357 shares of the company’s stock were exchanged, compared to its average volume of 1,365,314. The firm has a market capitalization of $25.42 billion, a price-to-earnings ratio of 50.68, a P/E/G ratio of 2.18 and a beta of 1.46. The company has a 50-day moving average of $56.41 and a 200 day moving average of $50.89. Brookfield Asset Management has a 1-year low of $37.29 and a 1-year high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. Research analysts forecast that Brookfield Asset Management will post 1.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Brookfield Asset Management

A number of hedge funds and other institutional investors have recently modified their holdings of BAM. Norges Bank purchased a new stake in shares of Brookfield Asset Management during the fourth quarter worth about $287,361,000. William Blair Investment Management LLC purchased a new stake in shares of Brookfield Asset Management during the fourth quarter worth about $204,169,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Brookfield Asset Management by 103.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider’s stock valued at $216,507,000 after purchasing an additional 2,031,995 shares during the period. Madison Investment Advisors LLC purchased a new stake in Brookfield Asset Management in the fourth quarter valued at approximately $94,122,000. Finally, TD Asset Management Inc. grew its holdings in Brookfield Asset Management by 8.9% in the fourth quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock valued at $903,323,000 after purchasing an additional 1,359,126 shares during the period. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

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.