Morgan Stanley Issues Pessimistic Forecast for Brookfield Asset Management (NYSE:BAM) Stock Price

Key Points

• Morgan Stanley cut its price target on Brookfield Asset Management from $63 to $62 while keeping an "equal weight" rating, a level that implies roughly a 27.1% upside from the current share price.
• Analysts are mixed: the consensus rating is "Hold" with an average target of $61.76 (1 Strong Buy, 6 Buy, 9 Hold, 2 Sell), reflecting divergent views on the stock's outlook.
• Brookfield is trading around $48.78 (down 0.6%), with a 52-week range of $42.20–$64.10, a market cap of $79.91B, and a P/E of 32.23.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A had its price target cut by investment analysts at Morgan Stanley from $63.00 to $62.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the financial services provider's stock. Morgan Stanley's price target would suggest a potential upside of 27.10% from the stock's current price.

BAM has been the topic of several other reports. BMO Capital Markets upgraded shares of Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 5th. UBS Group set a $52.00 price objective on shares of Brookfield Asset Management in a research report on Friday, February 20th. Scotiabank lowered their price objective on shares of Brookfield Asset Management from $64.00 to $56.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 25th. JPMorgan Chase & Co. lifted their target price on shares of Brookfield Asset Management from $68.00 to $72.00 and gave the company a "neutral" rating in a research note on Thursday, February 5th. Finally, The Goldman Sachs Group decreased their target price on shares of Brookfield Asset Management from $60.00 to $49.00 and set a "buy" rating for the company in a research note on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $61.76.

Brookfield Asset Management Trading Down 0.6%

NYSE BAM traded down $0.27 on Tuesday, hitting $48.78. 646,328 shares of the stock were exchanged, compared to its average volume of 3,677,458. Brookfield Asset Management has a 52-week low of $42.20 and a 52-week high of $64.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $79.91 billion, a price-to-earnings ratio of 32.23, a P/E/G ratio of 2.01 and a beta of 1.38. The company's 50-day moving average price is $46.67 and its two-hundred day moving average price is $50.82.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share 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 for the quarter, compared to analysts' expectations of $1.40 billion. Research analysts predict that Brookfield Asset Management will post 1.76 EPS for the current year.

Institutional Investors Weigh In On Brookfield Asset Management

Institutional investors have recently modified their holdings of the stock. Zions Bancorporation National Association UT boosted its stake in shares of Brookfield Asset Management by 241.3% during the 4th quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider's stock valued at $26,000 after buying an additional 345 shares during the period. LOM Asset Management Ltd acquired a new stake in shares of Brookfield Asset Management during the 4th quarter valued at $31,000. eCIO Inc. acquired a new stake in shares of Brookfield Asset Management in the 4th quarter valued at $42,000. Assetmark Inc. lifted its stake in shares of Brookfield Asset Management by 95.9% in the 3rd quarter. Assetmark Inc. now owns 807 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 395 shares during the last quarter. Finally, Cary Street Partners Financial LLC lifted its stake in shares of Brookfield Asset Management by 227.5% in the 3rd quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 562 shares during 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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