Brookfield Business Partners (NYSE:BBU) Given a $39.00 Price Target at Scotiabank

Key Points

• Brookfield Business Partners has received a price target of $39.00 from Scotiabank, indicating a potential upside of 18.73% from its current price.
• The stock currently holds an average rating of "Moderate Buy" with five analysts rating it as a buy and one analyst giving it a sell rating.
• Institutional ownership for Brookfield Business Partners is strong, with 85.04% of the stock owned by hedge funds and other institutional investors.

Brookfield Business Partners (NYSE:BBU - Get Free Report) has been given a $39.00 price target by equities researchers at Scotiabank in a research report issued on Thursday,BayStreet.CA reports. The firm currently has an "outperform" rating on the business services provider's stock. Scotiabank's price target would suggest a potential upside of 18.73% from the company's current price.

BBU has been the topic of a number of other research reports. National Bankshares raised their price target on Brookfield Business Partners from $33.00 to $39.00 and gave the stock an "outperform" rating in a research note on Friday, September 26th. Zacks Research lowered shares of Brookfield Business Partners from a "hold" rating to a "strong sell" rating in a research report on Tuesday. Royal Bank Of Canada raised their price objective on shares of Brookfield Business Partners from $35.00 to $39.00 and gave the stock an "outperform" rating in a research report on Monday. Wall Street Zen downgraded shares of Brookfield Business Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Desjardins raised their price target on Brookfield Business Partners from $31.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $35.83.

Brookfield Business Partners Stock Performance

Shares of BBU traded down $0.23 during midday trading on Thursday, reaching $32.85. 74,012 shares of the stock were exchanged, compared to its average volume of 24,870. The business's 50-day moving average price is $27.07 and its 200 day moving average price is $24.99. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.67 and a quick ratio of 1.36. Brookfield Business Partners has a twelve month low of $18.63 and a twelve month high of $33.19. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of -252.77 and a beta of 1.38.

Institutional Trading of Brookfield Business Partners

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BROOKFIELD Corp ON lifted its position in shares of Brookfield Business Partners by 72.5% in the first quarter. BROOKFIELD Corp ON now owns 44,152,007 shares of the business services provider's stock valued at $1,035,806,000 after acquiring an additional 18,549,503 shares in the last quarter. TD Waterhouse Canada Inc. lifted its holdings in Brookfield Business Partners by 1.4% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,102,273 shares of the business services provider's stock valued at $28,344,000 after purchasing an additional 14,981 shares in the last quarter. AGF Management Ltd. lifted its holdings in Brookfield Business Partners by 58.2% in the 1st quarter. AGF Management Ltd. now owns 342,906 shares of the business services provider's stock valued at $8,030,000 after purchasing an additional 126,189 shares in the last quarter. Triasima Portfolio Management inc. purchased a new position in Brookfield Business Partners in the 1st quarter valued at about $3,997,000. Finally, TD Asset Management Inc lifted its stake in shares of Brookfield Business Partners by 2.7% during the first quarter. TD Asset Management Inc now owns 154,820 shares of the business services provider's stock valued at $3,625,000 after buying an additional 4,032 shares during the period. 85.04% of the stock is currently owned by hedge funds and other institutional investors.

About Brookfield Business Partners

Brookfield Business Partners L.P. is a private equity firm specializing in acquisition. The firm typically invests in business services, infrastructure services, construction, energy, and industrials sector. It prefers to take majority stake in companies. The firm seeks returns of at least 15% on its investments.

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