Brookfield (NYSE:BN) Given New $83.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has raised the target price for Brookfield from $73.00 to $83.00, reflecting a potential upside of 21.75% from its current price.
• The stock has seen multiple upgrades from other brokerages, with ratings ranging from "hold" to "outperform," contributing to a consensus rating of "Buy."
• Brookfield is set to undergo a 3-for-2 stock split on October 10, 2023, which will distribute new shares to current shareholders after the market closes on October 9.

Brookfield (NYSE:BN - Get Free Report) had its target price boosted by investment analysts at JPMorgan Chase & Co. from $73.00 to $83.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 21.75% from the stock's current price.

Several other brokerages also recently weighed in on BN. Wall Street Zen raised Brookfield from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Scotiabank raised their price objective on Brookfield from $69.00 to $75.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. BMO Capital Markets raised their price objective on Brookfield from $66.00 to $69.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Cowen restated a "buy" rating on shares of Brookfield in a research note on Friday, August 8th. Finally, National Bankshares set a $82.00 price objective on Brookfield and gave the stock an "outperform" rating in a research note on Tuesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $76.70.

Brookfield Price Performance

Shares of NYSE BN opened at $68.17 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.18 and a current ratio of 1.29. The company has a market cap of $112.43 billion, a PE ratio of 158.54 and a beta of 1.75. The business has a 50-day simple moving average of $67.10 and a two-hundred day simple moving average of $60.44. Brookfield has a fifty-two week low of $43.61 and a fifty-two week high of $74.20.

Brookfield shares are going to split on the morning of Friday, October 10th. The 3-2 split was announced on Thursday, August 7th. The newly created shares will be distributed to shareholders after the closing bell on Thursday, October 9th.

Brookfield (NYSE:BN - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.01). The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.44 billion. Brookfield had a return on equity of 3.77% and a net margin of 1.11%. As a group, equities analysts expect that Brookfield will post 3.85 EPS for the current fiscal year.

Institutional Trading of Brookfield

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Brookfield in the first quarter worth approximately $26,000. North Capital Inc. acquired a new stake in shares of Brookfield in the first quarter worth approximately $27,000. Hilltop National Bank acquired a new stake in shares of Brookfield in the second quarter worth approximately $30,000. Golden State Wealth Management LLC boosted its stake in shares of Brookfield by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 592 shares of the company's stock worth $31,000 after acquiring an additional 296 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Brookfield in the second quarter worth approximately $32,000. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Company Profile

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.

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