Brookfield Asset Management (NYSE:BAM) Stock Rating Upgraded by Wells Fargo & Company

Key Points

• Wells Fargo upgraded Brookfield Asset Management to “strong buy” and assigned a $41 price target, implying 8.5% downside from the prior close.
• Analyst sentiment is mixed but remains moderately positive overall: MarketBeat reports a consensus “moderate buy” rating and an average price target of $57.39.
• Brookfield beat quarterly expectations, reporting $0.44 in EPS versus the $0.43 consensus and $1.49 billion in revenue versus $1.47 billion expected; institutional investors own 68.41% of the stock.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A was upgraded by equities research analysts at Wells Fargo & Company to a "strong-buy" rating in a research report issued to clients and investors on Friday, Marketbeat reports. The brokerage presently has a $41.00 price target on the financial services provider's stock. Wells Fargo & Company's price target suggests a potential downside of 8.50% from the company's previous close.

Other equities analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of Brookfield Asset Management from a "hold" rating to a "sell" rating in a report on Saturday, September 26th. Piper Sandler reissued a "neutral" rating and set a $50.00 target price (down from $53.00) on shares of Brookfield Asset Management in a report on Friday, September 18th. Morgan Stanley set a $56.00 price objective on shares of Brookfield Asset Management and gave the company an "equal weight" rating in a research report on Tuesday, July 21st. UBS Group increased their price objective on shares of Brookfield Asset Management from $48.00 to $55.00 and gave the stock a "neutral" rating in a research note on Thursday, August 6th. Finally, Scotiabank reissued an "outperform" rating and issued a $59.00 target price on shares of Brookfield Asset Management in a report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $57.39.

Brookfield Asset Management Stock Up 0.6%

NYSE:BAM opened at $44.81 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market capitalization of $73.41 billion, a price-to-earnings ratio of 26.05, a price-to-earnings-growth ratio of 1.82 and a beta of 1.31. Brookfield Asset Management has a one year low of $42.20 and a one year high of $59.33. The stock has a 50-day simple moving average of $49.36 and a 200 day simple moving average of $47.59.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its earnings results on Wednesday, August 5th. The financial services provider reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. Brookfield Asset Management had a return on equity of 31.50% and a net margin of 48.89%.The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.47 billion. Sell-side analysts predict that Brookfield Asset Management will post 1.78 EPS for the current fiscal year.

Institutional Trading of Brookfield Asset Management

A number of large investors have recently modified their holdings of BAM. Trust Co. of Vermont acquired a new position in shares of Brookfield Asset Management during the second quarter valued at approximately $25,000. Compass Financial Management LLC bought a new position in Brookfield Asset Management during the 2nd quarter valued at $27,000. Allied Private Wealth LLC bought a new position in Brookfield Asset Management during the 2nd quarter valued at $40,000. Root Financial Partners LLC increased its position in shares of Brookfield Asset Management by 184.5% during the 1st quarter. Root Financial Partners LLC now owns 1,283 shares of the financial services provider's stock valued at $57,000 after purchasing an additional 832 shares during the period. Finally, Global Retirement Partners LLC increased its position in shares of Brookfield Asset Management by 143.0% during the 4th quarter. Global Retirement Partners LLC now owns 1,329 shares of the financial services provider's stock valued at $70,000 after purchasing an additional 782 shares during the period. Institutional investors and hedge funds own 68.41% of the company's stock.

About Brookfield Asset Management

Brookfield Asset Management Ltd. NYSE: BAM is a global alternative asset management company that provides investment management services and strategies for institutional investors, governments, financial institutions and private wealth clients. The company invests in and manages assets on behalf of its clients across a range of private-market sectors.

Its principal investment strategies include renewable power and energy transition, infrastructure, private equity, real estate and credit.

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