Brookfield Asset Management (NYSE:BAM) Stock Rating Upgraded by Credit Suisse Group

Brookfield Asset Management (NYSE:BAMGet Rating) (TSE:BAM.A) was upgraded by analysts at Credit Suisse Group from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, Briefing.com reports. The firm currently has a $71.50 price objective on the financial services provider’s stock, up from their prior price objective of $68.00. Credit Suisse Group’s target price suggests a potential upside of 43.75% from the stock’s current price.

A number of other equities analysts have also issued reports on the stock. StockNews.com upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Tuesday, April 19th. TD Securities upped their target price on shares of Brookfield Asset Management from $75.00 to $77.00 and gave the stock an “action list buy” rating in a research report on Monday, February 7th. Citigroup upped their target price on shares of Brookfield Asset Management from $61.00 to $65.50 in a research report on Friday, February 11th. Zacks Investment Research upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Thursday, April 21st. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Brookfield Asset Management from $64.00 to $62.00 and set a “hold” rating on the stock in a research report on Thursday, April 7th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $66.50.

Shares of Brookfield Asset Management stock opened at $49.74 on Wednesday. The stock has a market capitalization of $81.64 billion, a price-to-earnings ratio of 20.81 and a beta of 1.30. Brookfield Asset Management has a 1-year low of $44.67 and a 1-year high of $62.47. The firm’s 50-day moving average price is $54.75 and its two-hundred day moving average price is $56.92.

Brookfield Asset Management (NYSE:BAMGet Rating) (TSE:BAM.A) last issued its quarterly earnings data on Thursday, February 10th. The financial services provider reported $0.66 earnings per share for the quarter. The firm had revenue of $21.79 billion for the quarter. Brookfield Asset Management had a net margin of 5.24% and a return on equity of 3.21%. As a group, equities analysts expect that Brookfield Asset Management will post 3.22 EPS for the current fiscal year.

In related news, major shareholder Oaktree Capital Management Gp, sold 585,735 shares of the business’s stock in a transaction on Tuesday, April 19th. The shares were sold at an average price of $31.00, for a total transaction of $18,157,785.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Brookfield Asset Management In sold 5,925 shares of the business’s stock in a transaction on Tuesday, April 12th. The shares were sold at an average price of $32.13, for a total transaction of $190,370.25. The disclosure for this sale can be found here.

Several hedge funds and other institutional investors have recently bought and sold shares of BAM. Brookfield Asset Management Inc. bought a new position in Brookfield Asset Management during the third quarter valued at about $6,974,274,000. FIL Ltd lifted its holdings in shares of Brookfield Asset Management by 30.0% in the third quarter. FIL Ltd now owns 29,604,720 shares of the financial services provider’s stock worth $1,586,351,000 after buying an additional 6,829,447 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Brookfield Asset Management by 3.9% in the third quarter. The Manufacturers Life Insurance Company now owns 24,253,743 shares of the financial services provider’s stock worth $1,646,101,000 after buying an additional 906,145 shares in the last quarter. Bank of Nova Scotia raised its stake in Brookfield Asset Management by 1.6% in the third quarter. Bank of Nova Scotia now owns 20,562,907 shares of the financial services provider’s stock valued at $1,101,548,000 after purchasing an additional 327,919 shares in the last quarter. Finally, Capital World Investors grew its position in Brookfield Asset Management by 2.1% during the fourth quarter. Capital World Investors now owns 19,732,888 shares of the financial services provider’s stock valued at $1,191,496,000 after acquiring an additional 406,898 shares during the last quarter. Hedge funds and other institutional investors own 60.23% of the company’s stock.

About Brookfield Asset Management (Get Rating)

Brookfield Asset Management 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.

Read More

Analyst Recommendations for Brookfield Asset Management (NYSE:BAM)

Receive News & Ratings for Brookfield Asset Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookfield Asset Management and related companies with MarketBeat.com's FREE daily email newsletter.