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Brookfield Asset Management (NYSE:BAM) Given New $75.00 Price Target at TD Securities

Brookfield Asset Management logo with Finance background

Key Points

  • TD Securities raised its price target for Brookfield Asset Management from $66.00 to $75.00, indicating a potential upside of 19.08% from its current stock price.
  • Despite this bullish outlook, other analysts provided mixed ratings; Royal Bank of Canada assigned a target of $72.00 while Wells Fargo set a lower target at $57.00.
  • Brookfield Asset Management currently has an average analyst rating of Moderate Buy and an average price target of $60.29.
  • MarketBeat previews top five stocks to own in September.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A had its target price hoisted by equities research analysts at TD Securities from $66.00 to $75.00 in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The brokerage currently has a "buy" rating on the financial services provider's stock. TD Securities' target price would indicate a potential upside of 24.59% from the stock's current price.

Other research analysts have also issued research reports about the stock. Morgan Stanley increased their target price on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the stock an "equal weight" rating in a research note on Friday, May 16th. Piper Sandler started coverage on shares of Brookfield Asset Management in a research report on Monday, June 30th. They set a "neutral" rating and a $60.00 price target on the stock. Bank of America raised shares of Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 price target on the stock in a research report on Thursday, April 10th. Jefferies Financial Group reduced their price target on shares of Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of Brookfield Asset Management from $51.00 to $55.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $62.06.

Check Out Our Latest Report on Brookfield Asset Management

Brookfield Asset Management Trading Down 2.4%

BAM stock traded down $1.47 during mid-day trading on Monday, hitting $60.20. 263,347 shares of the company were exchanged, compared to its average volume of 2,097,271. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $98.57 billion, a P/E ratio of 42.53, a PEG ratio of 2.39 and a beta of 1.43. The business has a fifty day simple moving average of $57.20 and a 200-day simple moving average of $54.80. Brookfield Asset Management has a 12-month low of $38.18 and a 12-month high of $63.53.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share for the quarter, hitting the consensus estimate of $0.40. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a net margin of 55.26% and a return on equity of 52.70%. On average, equities research analysts predict that Brookfield Asset Management will post 1.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Brookfield Asset Management

A number of institutional investors have recently made changes to their positions in the business. FMR LLC raised its position in shares of Brookfield Asset Management by 2.3% in the 4th quarter. FMR LLC now owns 19,646,285 shares of the financial services provider's stock valued at $1,064,983,000 after purchasing an additional 447,642 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Brookfield Asset Management by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider's stock valued at $832,833,000 after purchasing an additional 302,852 shares in the last quarter. Capital International Investors raised its position in shares of Brookfield Asset Management by 0.7% in the 4th quarter. Capital International Investors now owns 16,116,518 shares of the financial services provider's stock valued at $873,354,000 after purchasing an additional 116,008 shares in the last quarter. TD Asset Management Inc raised its position in shares of Brookfield Asset Management by 1.6% in the 2nd quarter. TD Asset Management Inc now owns 15,589,384 shares of the financial services provider's stock valued at $861,101,000 after purchasing an additional 250,068 shares in the last quarter. Finally, FIL Ltd raised its position in shares of Brookfield Asset Management by 3.9% in the 4th quarter. FIL Ltd now owns 15,369,816 shares of the financial services provider's stock valued at $833,581,000 after purchasing an additional 574,978 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Company Profile

(Get Free Report)

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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