Brookfield Asset Management (NYSE:BAM) Raised to Buy at HSBC

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) was upgraded by equities research analysts at HSBC from a “hold” rating to a “buy” rating in a research note issued on Friday, MarketBeat reports.

Several other research firms have also recently issued reports on BAM. Royal Bank of Canada lifted their price objective on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. BMO Capital Markets upped their target price on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a research report on Thursday. Keefe, Bruyette & Woods dropped their target price on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research report on Monday, January 13th. CIBC upped their target price on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Wells Fargo & Company dropped their target price on shares of Brookfield Asset Management from $55.00 to $54.00 and set an “underweight” rating for the company in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $56.71.

Brookfield Asset Management Stock Performance

NYSE:BAM opened at $57.60 on Friday. The stock has a 50-day simple moving average of $56.40 and a two-hundred day simple moving average of $50.94. The firm has a market capitalization of $25.52 billion, a PE ratio of 50.97, a P/E/G ratio of 2.18 and a beta of 1.46. Brookfield Asset Management has a 52-week low of $37.29 and a 52-week high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. Equities analysts forecast that Brookfield Asset Management will post 1.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Brookfield Asset Management

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Truvestments Capital LLC increased its stake in Brookfield Asset Management by 487.2% in the 4th quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock worth $27,000 after buying an additional 419 shares during the period. Hara Capital LLC purchased a new position in Brookfield Asset Management during the 3rd quarter valued at about $27,000. RPg Family Wealth Advisory LLC purchased a new position in Brookfield Asset Management during the 3rd quarter valued at about $27,000. Mountain Hill Investment Partners Corp. purchased a new position in Brookfield Asset Management during the 4th quarter valued at about $32,000. Finally, Versant Capital Management Inc increased its position in Brookfield Asset Management by 1,606.3% during the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 771 shares during the period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

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.