Jefferies Financial Group Issues Positive Forecast for Brookfield Asset Management (NYSE:BAM) Stock Price

Key Points

• Jefferies Financial Group raised its target price for Brookfield Asset Management from $55.00 to $62.00, maintaining a "hold" rating, indicating a potential downside of 1.07% from the current price.
• Several other brokerages have also increased their price targets for Brookfield, with Scotiabank's target reaching $67.25 and Morgan Stanley adjusting to $54.00, reflecting positive market sentiment.
• Brookfield Asset Management holds a market cap of $102.63 billion and has seen recent activity from institutional investors, with 68.41% of shares owned by them.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A had its target price hoisted by equities research analysts at Jefferies Financial Group from $55.00 to $62.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a "hold" rating on the financial services provider's stock. Jefferies Financial Group's price target points to a potential downside of 1.07% from the stock's current price.

A number of other brokerages have also weighed in on BAM. Scotiabank boosted their price objective on shares of Brookfield Asset Management from $66.00 to $67.25 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Morgan Stanley boosted their target price on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the company an "equal weight" rating in a research report on Friday, May 16th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $58.00 target price on shares of Brookfield Asset Management in a report on Thursday, August 7th. Piper Sandler started coverage on shares of Brookfield Asset Management in a research note on Monday, June 30th. They set a "neutral" rating and a $60.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Brookfield Asset Management from $51.00 to $55.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $63.33.

Brookfield Asset Management Price Performance

Shares of NYSE BAM opened at $62.67 on Wednesday. Brookfield Asset Management has a twelve month low of $39.19 and a twelve month high of $64.10. The firm has a market cap of $102.63 billion, a P/E ratio of 42.06, a PEG ratio of 2.22 and a beta of 1.44. The company has a 50 day moving average of $58.02 and a 200 day moving average of $55.09. The company has a quick ratio of 1.31, a current ratio of 1.25 and a debt-to-equity ratio of 0.14.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. GoalVest Advisory LLC boosted its position in shares of Brookfield Asset Management by 9.5% during the second quarter. GoalVest Advisory LLC now owns 2,180 shares of the financial services provider's stock valued at $121,000 after buying an additional 190 shares during the period. Kirr Marbach & Co. LLC IN grew its stake in Brookfield Asset Management by 0.6% in the first quarter. Kirr Marbach & Co. LLC IN now owns 35,400 shares of the financial services provider's stock worth $1,715,000 after purchasing an additional 203 shares in the last quarter. Lincoln Capital LLC grew its stake in Brookfield Asset Management by 0.9% in the first quarter. Lincoln Capital LLC now owns 23,151 shares of the financial services provider's stock worth $1,145,000 after purchasing an additional 210 shares in the last quarter. Focus Financial Network Inc. grew its stake in Brookfield Asset Management by 5.2% in the first quarter. Focus Financial Network Inc. now owns 4,442 shares of the financial services provider's stock worth $215,000 after purchasing an additional 218 shares in the last quarter. Finally, SBI Securities Co. Ltd. grew its stake in Brookfield Asset Management by 7.8% in the second quarter. SBI Securities Co. Ltd. now owns 3,454 shares of the financial services provider's stock worth $191,000 after purchasing an additional 250 shares in the last quarter. Institutional investors own 68.41% of the company's stock.

About Brookfield Asset Management

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.

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