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 boosted by research analysts at TD Securities from $64.00 to $66.00 in a note issued to investors on Monday,BayStreet.CA reports. The firm presently has a “buy” rating on the financial services provider’s stock. TD Securities’ target price indicates a potential upside of 14.13% from the company’s previous close.

A number of other equities research analysts have also commented on BAM. Royal Bank of Canada upped their price target on Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group boosted their price target on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. BMO Capital Markets lifted their target price on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. CIBC upped their price target 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. Finally, Keefe, Bruyette & Woods cut their target price on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research note on Monday, January 13th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $56.58.

Brookfield Asset Management Stock Down 0.1 %

NYSE BAM traded down $0.08 on Monday, hitting $57.83. The company’s stock had a trading volume of 741,242 shares, compared to its average volume of 1,297,569. The company’s 50-day moving average is $56.48 and its 200 day moving average is $50.65. The firm has a market cap of $25.63 billion, a PE ratio of 51.22, a PEG ratio of 2.18 and a beta of 1.46. Brookfield Asset Management has a 1-year low of $37.29 and a 1-year high of $62.61.

Hedge Funds Weigh In On Brookfield Asset Management

A number of hedge funds and other institutional investors have recently made changes to their positions in BAM. Hara Capital LLC purchased a new position in Brookfield Asset Management in the third quarter valued at about $27,000. RPg Family Wealth Advisory LLC bought a new position in Brookfield Asset Management during the third quarter valued at $27,000. Truvestments Capital LLC grew its holdings in Brookfield Asset Management by 487.2% during the fourth quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 419 shares during the period. Versant Capital Management Inc raised its stake in shares of Brookfield Asset Management by 1,606.3% in the fourth quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock valued at $44,000 after buying an additional 771 shares during the period. Finally, Continuum Advisory LLC lifted its position in shares of Brookfield Asset Management by 42.2% during the 3rd quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock valued at $52,000 after buying an additional 329 shares during the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Company Profile

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.