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

Key Points

• National Bank Financial raised its price target on Brookfield Asset Management from $70 to $72 and maintained an “outperform” rating, implying 32.37% upside from the prior close.
• Analyst opinions are mixed overall: MarketBeat reports a “Moderate Buy” consensus and an average target of $57.41, with ratings ranging from strong buy to sell.
• Brookfield reported quarterly EPS of $0.47, slightly above the $0.46 estimate, and revenue of $2.15 billion versus expectations of $1.60 billion.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A had its price target lifted by equities research analysts at National Bank Financial from $70.00 to $72.00 in a research report issued on Monday, BayStreet reports. The brokerage currently has an "outperform" rating on the financial services provider's stock. National Bank Financial's price target would suggest a potential upside of 32.37% from the company's previous close.

Several other brokerages have also recently issued reports on BAM. Bank of America cut their price target on Brookfield Asset Management from $61.00 to $60.00 and set a "neutral" rating for the company in a research note on Monday, October 5th. Scotia lifted their price objective on Brookfield Asset Management from $57.00 to $59.00 and gave the company a "sector outperform" rating in a report on Thursday, August 6th. Morgan Stanley set a $54.00 target price on Brookfield Asset Management in a research report on Friday, October 16th. UBS Group reduced their target price on Brookfield Asset Management from $55.00 to $49.00 and set a "neutral" rating on the stock in a report on Tuesday, October 13th. Finally, Weiss Ratings upgraded Brookfield Asset Management from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.41.

Brookfield Asset Management Stock Performance

BAM stock traded up $1.45 during trading hours on Monday, hitting $54.40. 1,270,977 shares of the stock were exchanged, compared to its average volume of 3,163,933. Brookfield Asset Management has a 12 month low of $42.20 and a 12 month high of $55.97. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. 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 company has a 50-day simple moving average of $47.18 and a two-hundred day simple moving average of $47.86.

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

Institutional Investors Weigh In On Brookfield Asset Management

Several institutional investors and hedge funds have recently added to or reduced their stakes in BAM. Trust Co. of Vermont bought a new position in Brookfield Asset Management in the 2nd quarter valued at approximately $25,000. Alpine Bank Wealth Management bought a new stake in Brookfield Asset Management during the 3rd quarter worth approximately $26,000. Compass Financial Management LLC acquired a new position in Brookfield Asset Management in the 2nd quarter valued at approximately $27,000. Allied Private Wealth LLC acquired a new position in Brookfield Asset Management in the 2nd quarter valued at approximately $40,000. Finally, Root Financial Partners LLC bought a new position in shares of Brookfield Asset Management during the third quarter valued at $50,000. 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.

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