Brookfield Asset Management (NYSE:BAM) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target upped by equities research analysts at Morgan Stanley from $50.00 to $54.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective indicates a potential downside of 9.57% from the company’s previous close.

A number of other brokerages have also issued reports on BAM. CIBC boosted their price objective on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. BMO Capital Markets boosted their price target on Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a report on Thursday, February 13th. Wells Fargo & Company upped their price target on Brookfield Asset Management from $48.00 to $54.00 and gave the company an “underweight” rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. lifted their price objective on Brookfield Asset Management from $51.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Finally, Bank of America upgraded Brookfield Asset Management from a “neutral” rating to a “buy” rating and set a $65.00 target price for the company in a report on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $59.08.

Brookfield Asset Management Stock Up 0.3%

Brookfield Asset Management stock opened at $59.72 on Friday. The firm has a fifty day simple moving average of $50.62 and a two-hundred day simple moving average of $54.25. Brookfield Asset Management has a twelve month low of $37.29 and a twelve month high of $62.61. The company has a market capitalization of $96.29 billion, a PE ratio of 45.24, a P/E/G ratio of 1.92 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.40 EPS for the quarter, hitting analysts’ consensus estimates of $0.40. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. As a group, equities analysts expect that Brookfield Asset Management will post 1.7 earnings per share for the current fiscal year.

Institutional Trading of Brookfield Asset Management

A number of hedge funds have recently made changes to their positions in BAM. Tandem Capital Management Corp ADV raised its position in shares of Brookfield Asset Management by 0.4% in the 4th quarter. Tandem Capital Management Corp ADV now owns 39,111 shares of the financial services provider’s stock worth $2,119,000 after purchasing an additional 175 shares during the last quarter. Kirr Marbach & Co. LLC IN raised its holdings in Brookfield Asset Management by 0.6% in the first quarter. Kirr Marbach & Co. LLC IN now owns 35,400 shares of the financial services provider’s stock worth $1,715,000 after buying an additional 203 shares during the last quarter. Lincoln Capital LLC lifted its stake in shares of Brookfield Asset Management by 0.9% in the first quarter. Lincoln Capital LLC now owns 23,151 shares of the financial services provider’s stock worth $1,145,000 after buying an additional 210 shares in the last quarter. RE Dickinson Investment Advisors LLC grew its holdings in shares of Brookfield Asset Management by 3.2% during the fourth quarter. RE Dickinson Investment Advisors LLC now owns 6,962 shares of the financial services provider’s stock valued at $377,000 after buying an additional 215 shares during the last quarter. Finally, Focus Financial Network Inc. grew its holdings in shares of Brookfield Asset Management by 5.2% during the first quarter. Focus Financial Network Inc. now owns 4,442 shares of the financial services provider’s stock valued at $215,000 after buying an additional 218 shares during the last quarter. 68.41% of the stock is 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.