Brookfield Asset Management (NYSE:BAM) Price Target Raised to $50.00 at BMO Capital Markets

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective increased by stock analysts at BMO Capital Markets from $40.00 to $50.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. BMO Capital Markets’ price target indicates a potential downside of 10.68% from the company’s previous close.

A number of other brokerages have also issued reports on BAM. Deutsche Bank Aktiengesellschaft raised their price target on shares of Brookfield Asset Management from $51.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. cut their target price on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Bank of America lifted their target price on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Wells Fargo & Company lifted their price target on shares of Brookfield Asset Management from $48.00 to $51.00 and gave the company an “underweight” rating in a research report on Tuesday. Finally, The Goldman Sachs Group lifted their target price on shares of Brookfield Asset Management from $47.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $51.71.

Brookfield Asset Management Trading Up 2.2 %

Shares of Brookfield Asset Management stock traded up $1.21 on Tuesday, hitting $55.98. 898,639 shares of the company traded hands, compared to its average volume of 1,273,379. The firm’s 50-day simple moving average is $47.19 and its 200 day simple moving average is $42.32. The company has a market cap of $24.87 billion, a P/E ratio of 49.54, a P/E/G ratio of 2.55 and a beta of 1.42. Brookfield Asset Management has a 12-month low of $30.59 and a 12-month high of $57.36.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the firm earned $0.35 EPS. Analysts predict that Brookfield Asset Management will post 1.43 earnings per share for the current year.

Hedge Funds Weigh In On Brookfield Asset Management

Hedge funds have recently modified their holdings of the company. Entropy Technologies LP bought a new position in shares of Brookfield Asset Management during the third quarter worth $415,000. Apollon Wealth Management LLC boosted its position in shares of Brookfield Asset Management by 3.5% during the third quarter. Apollon Wealth Management LLC now owns 17,228 shares of the financial services provider’s stock worth $815,000 after acquiring an additional 579 shares during the last quarter. Laffer Tengler Investments Inc. boosted its position in shares of Brookfield Asset Management by 1.4% during the third quarter. Laffer Tengler Investments Inc. now owns 119,005 shares of the financial services provider’s stock worth $5,628,000 after acquiring an additional 1,617 shares during the last quarter. Venturi Wealth Management LLC boosted its position in shares of Brookfield Asset Management by 45.6% during the third quarter. Venturi Wealth Management LLC now owns 5,841 shares of the financial services provider’s stock worth $276,000 after acquiring an additional 1,830 shares during the last quarter. Finally, Round Rock Advisors LLC bought a new position in shares of Brookfield Asset Management during the third quarter worth $244,000. 68.41% of the stock is currently owned by institutional investors.

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.