TD Securities analyst Cherilyn Radbourne reiterated a Buy rating on Brookfield Asset Mng (NYSE: BAM) on August 10 and set a price target of $56. The company’s shares closed on Friday at $43.50, close to its 52-week high of $44.33.
According to TipRanks.com, Radbourne is a 4-star analyst with an average return of 10.7% and a 75.3% success rate. Radbourne covers the Services sector, focusing on stocks such as Union Pacific Corp, Norfolk Southern, and Ritchie Bros.
Currently, the analyst consensus on Brookfield Asset Mng is a Strong Buy with an average price target of $51.20, a 17.7% upside from current levels. In a report issued on August 7, Scotiabank also reiterated a Buy rating on the stock with a $50.50 price target.
.
See today’s analyst top recommended stocks >>
Based on Brookfield Asset Mng’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $13.37 billion and net profit of $680 million. In comparison, last year the company earned revenue of $9.44 billion and had a net profit of $225 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Brookfield Asset Management, Inc. engages in the ownership and operation of assets of its shareholder and clients with a focus on real estate, renewable power, infrastructure and private equity. It operates through the following business segments: Asset Management, Real Estate, Renewable Power, Infrastructure, Private Equity, Residential Development, and Corporate Activities. The Asset Management segment includes managing the listed partnerships of the company, private funds and public securities on behalf of its investors and the company. The Real Estate segment is comprised of the ownership, operation and development of core office, core retail, opportunistic and other properties. The Renewable Power segment encompasses the ownership, operation and development of hydroelectric, wind, solar, storage and other power generating facilities. The Infrastructure segment is consist of the ownership, operation and development of utilities, transport, energy, communications and sustainable resource assets. The Private Equity segment refers to the broad range of industries, and are mostly focused on construction, other business services, energy, and industrial operations. The Residential Development segment represents homebuilding, condominium development and land development. The Corporate Activities segment handles investment of cash and financial assets, as well as the management of the corporate capitalization of the company, including corporate borrowings and preferred equity. The company was founded on August 1, 1997 and is headquartered in Toronto, Canada.
