Brookfield (NYSE:BN) Stock Gets Price Target Increase from JPMorgan Chase & Co.

Key Points

• JPMorgan raised Brookfield’s price target to $65 from $56 and maintained an “overweight” rating, implying 52.83% upside from the stock’s then-current price of $42.53.
• Analyst views are mostly positive: Brookfield has a “Moderate Buy” consensus rating and an average price target of $57.70, though one analyst rated it a strong sell.
• Brookfield reported quarterly EPS of $0.66, beating the $0.62 consensus estimate; revenue of $1.66 billion was in line with expectations.

Brookfield (NYSE:BN - Get Free Report) had its price objective increased by analysts at JPMorgan Chase & Co. from $56.00 to $65.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 52.83% from the stock's current price.

Several other equities analysts also recently commented on the company. Morgan Stanley set a $59.00 target price on Brookfield and gave the company an "overweight" rating in a research report on Tuesday, July 21st. BMO Capital Markets raised Brookfield to a "strong-buy" rating in a report on Monday, July 27th. Zacks Research cut Brookfield from a "hold" rating to a "strong sell" rating in a research report on Monday, October 19th. Weiss Ratings reiterated a "hold (c)" rating on shares of Brookfield in a research report on Monday, September 21st. Finally, TD lifted their target price on Brookfield from $60.00 to $61.00 and gave the stock a "buy" rating in a report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Brookfield currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.70.

Brookfield Stock Performance

Shares of NYSE BN traded down $0.44 during mid-day trading on Tuesday, reaching $42.53. 803,339 shares of the company were exchanged, compared to its average volume of 5,118,704. The stock has a market capitalization of $104.31 billion, a P/E ratio of 77.22 and a beta of 1.53. The company has a quick ratio of 1.22, a current ratio of 1.34 and a debt-to-equity ratio of 1.54. The company's 50-day simple moving average is $38.22 and its 200-day simple moving average is $42.44. Brookfield has a twelve month low of $35.61 and a twelve month high of $49.56.

Brookfield (NYSE:BN - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.66 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.04. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.66 billion. Brookfield had a net margin of 1.85% and a return on equity of 3.93%. As a group, research analysts predict that Brookfield will post 2.88 earnings per share for the current year.

Hedge Funds Weigh In On Brookfield

Several hedge funds have recently bought and sold shares of the company. Bank of Nova Scotia lifted its holdings in shares of Brookfield by 11.4% during the 1st quarter. Bank of Nova Scotia now owns 15,340,928 shares of the company's stock worth $621,443,000 after acquiring an additional 1,575,668 shares during the period. TD Waterhouse Canada Inc. increased its stake in Brookfield by 3.6% in the third quarter. TD Waterhouse Canada Inc. now owns 14,398,936 shares of the company's stock valued at $522,741,000 after acquiring an additional 495,666 shares during the last quarter. Beutel Goodman & Co Ltd. increased its stake in Brookfield by 6.3% in the third quarter. Beutel Goodman & Co Ltd. now owns 6,573,596 shares of the company's stock valued at $240,395,000 after acquiring an additional 386,889 shares during the last quarter. BCV Asset Management Inc. increased its stake in Brookfield by 10.4% in the third quarter. BCV Asset Management Inc. now owns 4,033,866 shares of the company's stock valued at $148,149,000 after acquiring an additional 378,818 shares during the last quarter. Finally, Cardinal Capital Management Inc. raised its position in Brookfield by 2.3% during the third quarter. Cardinal Capital Management Inc. now owns 3,321,845 shares of the company's stock valued at $121,503,000 after purchasing an additional 74,218 shares in the last quarter. 61.60% of the stock is owned by institutional investors.

About Brookfield

Brookfield Corporation is a global investment and operating company focused on owning and managing businesses and assets in sectors including renewable power, infrastructure, real estate, private equity and credit. It invests directly and through its asset management business, Brookfield Asset Management, which serves institutional and individual investors.

The company's operations and investments span multiple regions, including North America, South America, Europe and Asia-Pacific. Its portfolio includes renewable energy facilities, transportation and utility infrastructure, commercial and residential real estate, and businesses in a range of industries.

Brookfield traces its origins to 1899, when its predecessor, Brazilian Traction, Light and Power Company, was established to develop electricity and transportation services in Brazil.

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