JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Brookfield Asset Management (NYSE:BAM) Stock

Key Points

• JPMorgan raised Brookfield Asset Management’s price target from $55 to $58 but maintained a neutral rating; the new target implies 10.48% upside from the prior close.
• Analyst sentiment is moderately positive overall: the consensus rating is “Moderate Buy,” with a $56.91 average price target, though recommendations range from strong buy to sell.
• Shares fell 3% to $52.50 on Thursday. In its latest reported quarter, Brookfield slightly beat earnings and revenue expectations.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A had its price objective increased by research analysts at JPMorgan Chase & Co. from $55.00 to $58.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a "neutral" rating on the financial services provider's stock. JPMorgan Chase & Co.'s target price points to a potential upside of 10.48% from the stock's previous close.

Other equities analysts have also recently issued research reports about the stock. Wells Fargo & Company assumed coverage on shares of Brookfield Asset Management in a research note on Friday, October 2nd. They issued an "overweight" rating and a $41.00 price target on the stock. Wall Street Zen lowered shares of Brookfield Asset Management from a "hold" rating to a "sell" rating in a research note on Saturday, October 17th. National Bank Financial lifted their target price on shares of Brookfield Asset Management from $69.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. Scotia lifted their target price on shares of Brookfield Asset Management from $57.00 to $59.00 and gave the stock a "sector outperform" rating in a report on Thursday, August 6th. Finally, UBS Group dropped their target price on shares of Brookfield Asset Management from $55.00 to $49.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 13th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Brookfield Asset Management has an average rating of "Moderate Buy" and a consensus target price of $56.91.

Brookfield Asset Management Stock Down 3.0%

NYSE:BAM traded down $1.61 during trading hours on Thursday, reaching $52.50. 4,107,295 shares of the company traded hands, compared to its average volume of 3,150,825. 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 business's 50-day moving average price is $47.16 and its two-hundred day moving average price is $47.85. Brookfield Asset Management has a 1 year low of $42.20 and a 1 year high of $55.97. The stock has a market capitalization of $86.01 billion, a P/E ratio of 30.52, a P/E/G ratio of 2.15 and a beta of 1.27.

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 firm had revenue of $1.49 billion for the quarter, compared to analysts' expectations of $1.47 billion. Analysts predict 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 modified their holdings of BAM. TD Waterhouse Canada Inc. lifted its position in Brookfield Asset Management by 6.3% during the second quarter. TD Waterhouse Canada Inc. now owns 5,003,128 shares of the financial services provider's stock valued at $227,422,000 after purchasing an additional 294,966 shares in the last quarter. Nykredit A S bought a new stake in Brookfield Asset Management during the second quarter valued at about $3,451,000. Liontrust Investment Partners LLP bought a new stake in Brookfield Asset Management during the first quarter valued at about $11,161,000. Baird Financial Group Inc. increased its position in Brookfield Asset Management by 131.4% in 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 in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Brookfield Asset Management in the second quarter worth about $8,235,000. 68.41% of the stock is owned by institutional investors.

About Brookfield Asset Management

Brookfield Asset Management Ltd. NYSE: BAM is a global alternative asset manager that invests in and manages assets on behalf of institutional investors, insurance companies, sovereign wealth funds, financial institutions and private-wealth clients. The company focuses on long-term investments in real assets and businesses, with an emphasis on sectors supported by essential services, economic growth and the transition to a lower-carbon economy.

Its investment activities span renewable power and transition, infrastructure, private equity, real estate and credit.

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