Brookfield Asset Management (NYSE:BAM) Upgraded by HSBC to Buy Rating

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) was upgraded by analysts at HSBC from a “hold” rating to a “buy” rating in a note issued to investors on Friday, MarketBeat Ratings reports.

A number of other research firms have also issued reports on BAM. BMO Capital Markets raised their price target on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a research report on Thursday. CIBC lifted their target price on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Royal Bank of Canada lifted their target price on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. The Goldman Sachs Group lifted their target price on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Scotiabank cut their target price on shares of Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating for the company in a report on Thursday. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Brookfield Asset Management presently has a consensus rating of “Hold” and a consensus price target of $56.71.

Brookfield Asset Management Stock Performance

NYSE:BAM opened at $57.60 on Friday. Brookfield Asset Management has a fifty-two week low of $37.29 and a fifty-two week high of $62.61. The stock has a market capitalization of $25.52 billion, a P/E ratio of 50.97, a P/E/G ratio of 2.18 and a beta of 1.46. The company’s 50-day simple moving average is $56.40 and its 200-day simple moving average is $50.94.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. On average, research analysts forecast that Brookfield Asset Management will post 1.45 EPS for the current year.

Institutional Investors Weigh In On Brookfield Asset Management

Several hedge funds and other institutional investors have recently bought and sold shares of BAM. Hara Capital LLC purchased a new position in Brookfield Asset Management during the third quarter worth about $27,000. RPg Family Wealth Advisory LLC purchased a new position in Brookfield Asset Management in the third quarter worth approximately $27,000. Truvestments Capital LLC lifted its stake in Brookfield Asset Management by 487.2% in the fourth quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 419 shares during the last quarter. Mountain Hill Investment Partners Corp. purchased a new position in Brookfield Asset Management in the fourth quarter worth approximately $32,000. Finally, Versant Capital Management Inc lifted its stake in Brookfield Asset Management by 1,606.3% in the fourth quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 771 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

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.