Scotiabank Issues Positive Forecast for Brookfield Business Partners (NYSE:BBU) Stock Price

Key Points

• Scotiabank has raised its price target for Brookfield Business Partners from $36.00 to $39.00, suggesting a potential upside of 21.46% from the current stock price.
• Institutional investors hold 85.04% of Brookfield Business Partners' stock, with significant increases in stakes from entities like BROOKFIELD Corp ON and Bank of New York Mellon Corp.
• Brookfield Business Partners currently has an average rating of "Buy" among analysts, with an overall average target price now at $34.00.

Brookfield Business Partners (NYSE:BBU - Get Free Report) had its price objective increased by equities research analysts at Scotiabank from $36.00 to $39.00 in a report issued on Friday,Benzinga reports. The firm currently has a "sector outperform" rating on the business services provider's stock. Scotiabank's price target indicates a potential upside of 21.46% from the stock's current price.

A number of other brokerages have also commented on BBU. Desjardins upped their price target on Brookfield Business Partners from $31.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Wall Street Zen lowered Brookfield Business Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Royal Bank Of Canada raised their price objective on shares of Brookfield Business Partners from $33.00 to $35.00 and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $34.00.

Brookfield Business Partners Stock Performance

Shares of BBU stock opened at $32.11 on Friday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.67 and a quick ratio of 1.36. The firm has a market cap of $2.85 billion, a P/E ratio of -247.00 and a beta of 1.34. Brookfield Business Partners has a fifty-two week low of $18.63 and a fifty-two week high of $33.05. The stock's 50-day moving average is $26.52 and its two-hundred day moving average is $24.70.

Institutional Trading of Brookfield Business Partners

Institutional investors have recently added to or reduced their stakes in the company. BROOKFIELD Corp ON boosted its position in shares of Brookfield Business Partners by 72.5% in the first quarter. BROOKFIELD Corp ON now owns 44,152,007 shares of the business services provider's stock valued at $1,035,806,000 after acquiring an additional 18,549,503 shares during the period. Triasima Portfolio Management inc. acquired a new stake in shares of Brookfield Business Partners in the first quarter valued at approximately $3,997,000. Bank of New York Mellon Corp increased its stake in Brookfield Business Partners by 11.7% during the 1st quarter. Bank of New York Mellon Corp now owns 19,802 shares of the business services provider's stock worth $465,000 after acquiring an additional 2,078 shares during the period. TD Asset Management Inc lifted its position in shares of Brookfield Business Partners by 2.7% during the 1st quarter. TD Asset Management Inc now owns 154,820 shares of the business services provider's stock valued at $3,625,000 after acquiring an additional 4,032 shares during the period. Finally, AGF Management Ltd. grew its holdings in shares of Brookfield Business Partners by 58.2% during the 1st quarter. AGF Management Ltd. now owns 342,906 shares of the business services provider's stock worth $8,030,000 after purchasing an additional 126,189 shares in the last quarter. 85.04% of the stock is currently owned by institutional investors.

Brookfield Business Partners Company Profile

Brookfield Business Partners L.P. is a private equity firm specializing in acquisition. The firm typically invests in business services, infrastructure services, construction, energy, and industrials sector. It prefers to take majority stake in companies. The firm seeks returns of at least 15% on its investments.

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