RBC Capital analyst Neil Downey maintained a Buy rating on Brookfield Asset Mng (BAM) on October 18 and set a price target of $40.00. The company’s shares closed last Monday at $33.69.
According to TipRanks.com, Downey is a 4-star analyst with an average return of 7.1% and a 67.9% success rate. Downey covers the Financial sector, focusing on stocks such as Allied Properties Real Estate Investment Trust, NorthWest Healthcare Properties REIT, and Brookfield Property Partners.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Brookfield Asset Mng with a $40.88 average price target, which is a 18.4% upside from current levels. In a report released yesterday, Citigroup also upgraded the stock to Buy with a $40.00 price target.
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Based on Brookfield Asset Mng’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $12.83 billion and GAAP net loss of $656 million. In comparison, last year the company earned revenue of $16.92 billion and had a net profit of $399 million.
Based on the recent corporate insider activity of 80 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BAM in relation to earlier this year.
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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 consists 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 is 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.
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