Deutsche Bank Aktiengesellschaft 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 investment analysts at Deutsche Bank Aktiengesellschaft from $51.00 to $56.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential upside of 2.25% from the company’s current price.

Several other equities research analysts have also recently weighed in on BAM. Bank of America upped their target price on Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Wells Fargo & Company raised their price objective on Brookfield Asset Management from $42.00 to $48.00 and gave the company an “underweight” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group boosted their target price on Brookfield Asset Management from $47.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. CIBC raised their price target on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a research note on Friday, July 19th. Finally, Scotiabank upped their price objective on shares of Brookfield Asset Management from $45.50 to $55.50 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Brookfield Asset Management has a consensus rating of “Hold” and an average price target of $49.41.

Brookfield Asset Management Price Performance

Brookfield Asset Management stock opened at $54.77 on Tuesday. The stock’s fifty day moving average price is $47.19 and its two-hundred day moving average price is $42.32. The firm has a market cap of $24.33 billion, a PE ratio of 49.79, a price-to-earnings-growth ratio of 2.55 and a beta of 1.42. Brookfield Asset Management has a one year low of $30.59 and a one year high of $57.36.

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

Institutional Investors Weigh In On Brookfield Asset Management

Hedge funds and other institutional investors have recently made changes to their positions in the business. Entropy Technologies LP acquired a new position in Brookfield Asset Management during the 3rd quarter valued at about $415,000. Apollon Wealth Management LLC raised its stake in shares of Brookfield Asset Management by 3.5% during the 3rd quarter. Apollon Wealth Management LLC now owns 17,228 shares of the financial services provider’s stock worth $815,000 after purchasing an additional 579 shares during the period. Laffer Tengler Investments Inc. boosted its holdings in shares of Brookfield Asset Management by 1.4% in the 3rd quarter. Laffer Tengler Investments Inc. now owns 119,005 shares of the financial services provider’s stock worth $5,628,000 after buying an additional 1,617 shares during the last quarter. Venturi Wealth Management LLC grew its position in Brookfield Asset Management by 45.6% during the third quarter. Venturi Wealth Management LLC now owns 5,841 shares of the financial services provider’s stock valued at $276,000 after buying an additional 1,830 shares during the period. Finally, Round Rock Advisors LLC purchased a new stake in Brookfield Asset Management during the third quarter worth about $244,000. 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.