Brookfield Asset Management (NYSE:BAM) Given New $57.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo raised its price target on Brookfield Asset Management to $57 from $51 and maintained an “overweight” rating, implying about 10.2% upside from the share price cited in the report.
• Analyst views are mixed: the stock has a “Moderate Buy” consensus rating and an average target of $58.37, with targets ranging from $49 to $72.
• Brookfield reported quarterly EPS of $0.47, slightly above the $0.46 consensus, while revenue of $2.15 billion exceeded analysts’ $1.60 billion estimate.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A had its price target upped by stock analysts at Wells Fargo & Company from $51.00 to $57.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an "overweight" rating on the financial services provider's stock. Wells Fargo & Company's price target would suggest a potential upside of 10.18% from the stock's current price.

Other equities analysts have also issued reports about the stock. UBS Group cut their price objective on shares of Brookfield Asset Management from $55.00 to $49.00 and set a "neutral" rating for the company in a report on Tuesday, October 13th. National Bank Financial raised their target price on shares of Brookfield Asset Management from $70.00 to $72.00 and gave the stock an "outperform" rating in a report on Monday. Wall Street Zen upgraded shares of Brookfield Asset Management from a "sell" rating to a "hold" rating in a research report on Saturday, November 7th. Royal Bank Of Canada set a $65.00 price target on Brookfield Asset Management and gave the company an "outperform" rating in a research note on Friday, September 18th. Finally, JPMorgan Chase & Co. boosted their price target on Brookfield Asset Management from $55.00 to $58.00 and gave the company a "neutral" rating in a research note on Thursday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Brookfield Asset Management presently has a consensus rating of "Moderate Buy" and an average price target of $58.37.

Brookfield Asset Management Stock Performance

Shares of BAM stock traded up $0.32 during midday trading on Friday, hitting $51.73. 339,533 shares of the company were exchanged, compared to its average volume of 3,153,755. 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 $82.66 billion, a P/E ratio of 17.68, a PEG ratio of 2.17 and a beta of 1.27. The firm's 50 day moving average price is $47.36 and its two-hundred day moving average price is $47.89. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.75 and a current ratio of 0.61.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings results on Friday, November 6th. The financial services provider reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.01. The business had revenue of $2.15 billion during the quarter, compared to analysts' expectations of $1.60 billion. Brookfield Asset Management had a return on equity of 30.24% and a net margin of 71.24%. As a group, equities research analysts anticipate that Brookfield Asset Management will post 1.77 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. TD Waterhouse Canada Inc. increased its position in Brookfield Asset Management by 6.3% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 5,003,128 shares of the financial services provider's stock worth $227,422,000 after purchasing an additional 294,966 shares in the last quarter. Nykredit A S bought a new position in Brookfield Asset Management in the 2nd quarter valued at approximately $3,451,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Brookfield Asset Management by 18.8% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 276,777 shares of the financial services provider's stock valued at $12,339,000 after buying an additional 43,748 shares in the last quarter. Liontrust Investment Partners LLP acquired a new stake in Brookfield Asset Management in the first quarter valued at approximately $11,161,000. Finally, Baird Financial Group Inc. grew its stake in shares of Brookfield Asset Management by 131.4% during the second quarter. Baird Financial Group Inc. now owns 45,809 shares of the financial services provider's stock worth $2,054,000 after buying an additional 26,011 shares during the last quarter. Institutional investors own 68.41% of the company's stock.

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.

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