TD Securities Forecasts Strong Price Appreciation for Brookfield Asset Management (NYSE:BAM) Stock

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target raised by TD Securities from $61.00 to $64.00 in a report released on Tuesday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. TD Securities’ price objective would indicate a potential upside of 14.57% from the company’s current price.

Several other brokerages have also recently weighed in on BAM. BMO Capital Markets raised their price objective on Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a research note on Tuesday. Wells Fargo & Company lifted their target price on shares of Brookfield Asset Management from $48.00 to $51.00 and gave the stock an “underweight” rating in a research report on Tuesday. The Goldman Sachs Group increased their price target on Brookfield Asset Management from $47.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, September 30th. CIBC boosted their price objective on Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a research report on Friday, July 19th. Finally, Bank of America raised their target price on Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Brookfield Asset Management has an average rating of “Hold” and an average price target of $51.96.

Brookfield Asset Management Stock Up 2.0 %

BAM stock traded up $1.09 during midday trading on Tuesday, reaching $55.86. 917,948 shares of the company’s stock traded hands, compared to its average volume of 1,273,577. Brookfield Asset Management has a 52 week low of $30.59 and a 52 week high of $57.36. The company has a market cap of $24.82 billion, a price-to-earnings ratio of 49.67, a P/E/G ratio of 2.55 and a beta of 1.42. The firm’s fifty day moving average price is $47.19 and its 200-day moving average price is $42.32.

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

Institutional Investors Weigh In On Brookfield Asset Management

Institutional investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC boosted its position in shares of Brookfield Asset Management by 2.5% during the first quarter. Janney Montgomery Scott LLC now owns 194,158 shares of the financial services provider’s stock valued at $8,159,000 after buying an additional 4,820 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Brookfield Asset Management by 574.2% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 758 shares during the period. SG Americas Securities LLC purchased a new position in shares of Brookfield Asset Management during the first quarter valued at approximately $137,000. JCIC Asset Management Inc. lifted its position in Brookfield Asset Management by 1.0% during the first quarter. JCIC Asset Management Inc. now owns 81,850 shares of the financial services provider’s stock valued at $3,440,000 after purchasing an additional 840 shares during the period. Finally, Karpas Strategies LLC boosted its holdings in Brookfield Asset Management by 0.7% in the first quarter. Karpas Strategies LLC now owns 263,513 shares of the financial services provider’s stock worth $11,073,000 after purchasing an additional 1,821 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

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.