JPMorgan Chase & Co. Cuts Brookfield Asset Management (NYSE:BAM) Price Target to $60.00

Key Points

• JPMorgan cut its price target on Brookfield Asset Management to $60 (from $72) and kept a "neutral" rating, implying roughly a 23% upside from the stock's current price.
• Analysts show mixed views with a consensus "Hold" and a consensus target of $61.06, while firms have issued differing moves (e.g., Goldman lowered its target to $49 but kept a buy, Morgan Stanley to $62/“equal weight”, Weiss upgraded to buy).
• Shares trade at about $48.68 with a market cap of $79.7B, a P/E of 32.0 and a 52‑week range of $42.20–$64.10; Brookfield recently reported Q4 EPS of $0.47, beating the $0.41 estimate.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A had its price target lowered by equities research analysts at JPMorgan Chase & Co. from $72.00 to $60.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the financial services provider's stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 23.26% from the company's current price.

Other research analysts have also recently issued research reports about the stock. Weiss Ratings raised shares of Brookfield Asset Management from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday. Wall Street Zen upgraded shares of Brookfield Asset Management from a "sell" rating to a "hold" rating in a research report on Saturday, January 10th. Zacks Research lowered shares of Brookfield Asset Management from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 20th. Morgan Stanley dropped their price target on shares of Brookfield Asset Management from $63.00 to $62.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 21st. Finally, The Goldman Sachs Group dropped their price target on shares of Brookfield Asset Management from $60.00 to $49.00 and set a "buy" rating on the stock in a research report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $61.06.

Brookfield Asset Management Stock Performance

Shares of Brookfield Asset Management stock traded up $0.25 during trading on Wednesday, hitting $48.68. 3,705,005 shares of the company's stock were exchanged, compared to its average volume of 3,618,761. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.92 and a current ratio of 0.92. The business has a 50-day simple moving average of $45.88 and a 200-day simple moving average of $50.20. Brookfield Asset Management has a 52-week low of $42.20 and a 52-week high of $64.10. The stock has a market capitalization of $79.74 billion, a price-to-earnings ratio of 32.02, a PEG ratio of 1.96 and a beta of 1.28.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its earnings results on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.06. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.81%. The firm had revenue of $1.39 billion during the quarter, compared to analysts' expectations of $1.40 billion. On average, research analysts forecast that Brookfield Asset Management will post 1.74 EPS for the current year.

Institutional Trading of Brookfield Asset Management

Several institutional investors have recently modified their holdings of BAM. Zions Bancorporation National Association UT grew its position in shares of Brookfield Asset Management by 241.3% in the fourth quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 345 shares during the period. LOM Asset Management Ltd purchased a new position in shares of Brookfield Asset Management in the fourth quarter worth about $31,000. eCIO Inc. purchased a new position in shares of Brookfield Asset Management in the fourth quarter worth about $42,000. Assetmark Inc. lifted its stake in shares of Brookfield Asset Management by 95.9% in the third quarter. Assetmark Inc. now owns 807 shares of the financial services provider's stock worth $46,000 after buying an additional 395 shares in the last quarter. Finally, Cary Street Partners Financial LLC lifted its stake in shares of Brookfield Asset Management by 227.5% in the third quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider's stock worth $46,000 after buying an additional 562 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company's stock.

About Brookfield Asset Management

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company's products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.

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