Brookfield (NYSE:BN) Price Target Raised to $82.00

Key Points

• TD Securities raised its price target for Brookfield from $74.00 to $82.00, suggesting a potential upside of 22.10% from the current stock price.
• The majority of analysts maintain a positive outlook on Brookfield, with a consensus rating of "Moderate Buy" and an average price target of $70.80.
• Brookfield's stock recorded an earnings per share (EPS) of $0.98 for the last quarter, exceeding analysts' expectations of $0.90.

Brookfield (NYSE:BN - Get Free Report) had its price objective hoisted by stock analysts at TD Securities from $74.00 to $82.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. TD Securities' price objective would suggest a potential upside of 22.10% from the company's current price.

A number of other equities analysts have also weighed in on BN. Morgan Stanley reissued an "overweight" rating on shares of Brookfield in a research report on Monday, May 19th. Scotiabank restated an "outperform" rating and set a $75.00 target price (up previously from $69.00) on shares of Brookfield in a research report on Wednesday, July 30th. Royal Bank Of Canada began coverage on shares of Brookfield in a research report on Wednesday, June 18th. They set an "outperform" rating and a $81.00 target price on the stock. National Bank Financial began coverage on shares of Brookfield in a research report on Tuesday, July 29th. They set an "outperform" rating and a $82.00 target price on the stock. Finally, National Bankshares set a $82.00 price target on shares of Brookfield and gave the company an "outperform" rating in a report on Tuesday, July 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $70.80.

Brookfield Stock Performance

Shares of NYSE:BN traded up $0.54 on Tuesday, reaching $67.16. The company's stock had a trading volume of 1,824,769 shares, compared to its average volume of 2,636,219. The stock has a market capitalization of $110.72 billion, a P/E ratio of 239.73 and a beta of 1.70. Brookfield has a 52-week low of $42.39 and a 52-week high of $68.75. The stock's 50-day moving average is $62.21 and its two-hundred day moving average is $57.60. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.30 and a quick ratio of 1.18.

Brookfield (NYSE:BN - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.08. Brookfield had a return on equity of 4.20% and a net margin of 0.76%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. As a group, sell-side analysts forecast that Brookfield will post 3.85 EPS for the current year.

Institutional Investors Weigh In On Brookfield

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Brookfield by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 60,892,877 shares of the company's stock worth $3,186,707,000 after purchasing an additional 988,419 shares during the last quarter. Capital World Investors boosted its holdings in shares of Brookfield by 3.1% in the 4th quarter. Capital World Investors now owns 59,020,303 shares of the company's stock valued at $3,390,786,000 after buying an additional 1,782,034 shares during the period. Pershing Square Capital Management L.P. boosted its holdings in shares of Brookfield by 17.5% in the 1st quarter. Pershing Square Capital Management L.P. now owns 41,004,657 shares of the company's stock valued at $2,149,054,000 after buying an additional 6,111,593 shares during the period. TD Asset Management Inc boosted its holdings in shares of Brookfield by 1.5% in the 1st quarter. TD Asset Management Inc now owns 24,584,311 shares of the company's stock valued at $1,286,395,000 after buying an additional 354,171 shares during the period. Finally, FIL Ltd boosted its holdings in shares of Brookfield by 8.8% in the 4th quarter. FIL Ltd now owns 20,354,516 shares of the company's stock valued at $1,169,912,000 after buying an additional 1,640,903 shares during the period. Institutional investors own 61.60% of the company's stock.

About Brookfield

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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