CIBC Forecasts Strong Price Appreciation for Brookfield (NYSE:BN) Stock

Brookfield (NYSE:BN) had its price objective increased by research analysts at CIBC from $68.00 to $70.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “outperformer” rating on the stock. CIBC’s target price indicates a potential upside of 17.91% from the company’s previous close.

A number of other research analysts have also weighed in on BN. Scotiabank boosted their target price on Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a report on Friday, November 15th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $62.00 price target (up previously from $50.00) on shares of Brookfield in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $57.56.

Brookfield Stock Performance

Shares of BN traded up $0.44 during midday trading on Thursday, reaching $59.37. The stock had a trading volume of 568,937 shares, compared to its average volume of 2,458,397. The company has a current ratio of 1.17, a quick ratio of 1.03 and a debt-to-equity ratio of 1.40. The firm has a 50 day simple moving average of $58.18 and a 200-day simple moving average of $52.91. The firm has a market cap of $97.71 billion, a PE ratio of 126.30 and a beta of 1.56. Brookfield has a one year low of $38.18 and a one year high of $62.44.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Brookfield by 131.9% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 463,125 shares of the company’s stock worth $24,594,000 after acquiring an additional 263,375 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Brookfield by 5.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 183,698 shares of the company’s stock worth $9,764,000 after purchasing an additional 9,915 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Brookfield by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock valued at $320,670,000 after purchasing an additional 591,757 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Brookfield by 10.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company’s stock worth $189,507,000 after buying an additional 351,231 shares during the period. Finally, Partners Group Holding AG increased its position in shares of Brookfield by 53.5% during the third quarter. Partners Group Holding AG now owns 409,303 shares of the company’s stock worth $21,754,000 after buying an additional 142,603 shares during the period. Institutional investors and hedge funds own 61.60% of the company’s stock.

About Brookfield

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.