Brookfield (NYSE:BN) Price Target Raised to $60.00 at TD

Brookfield (NYSE:BN) had its price target increased by equities research analysts at TD from $59.00 to $60.00 in a report released on Tuesday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD’s price objective suggests a potential upside of 33.99% from the company’s previous close.

A number of other analysts have also commented on the stock. Zacks Research raised shares of Brookfield from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. JPMorgan Chase & Co. upped their price objective on shares of Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Scotia upped their price objective on shares of Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a research note on Friday. National Bank Financial upped their price objective on shares of Brookfield from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday. Finally, TD Securities reaffirmed a “buy” rating and set a $60.00 price objective on shares of Brookfield in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $56.82.

Brookfield Price Performance

Shares of NYSE:BN traded down $0.28 during trading hours on Tuesday, hitting $44.78. 2,190,784 shares of the company’s stock traded hands, compared to its average volume of 5,892,372. Brookfield has a 52 week low of $37.54 and a 52 week high of $49.56. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.20 and a current ratio of 1.32. The company’s fifty day simple moving average is $42.83 and its two-hundred day simple moving average is $44.91. The company has a market cap of $109.74 billion, a price-to-earnings ratio of 87.81 and a beta of 1.55.

Institutional Trading of Brookfield

A number of hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC lifted its position in shares of Brookfield by 7.4% in the first quarter. Janus Henderson Group PLC now owns 341,520 shares of the company’s stock worth $13,810,000 after purchasing an additional 23,460 shares in the last quarter. Arkadios Wealth Advisors lifted its position in shares of Brookfield by 15.0% in the first quarter. Arkadios Wealth Advisors now owns 18,206 shares of the company’s stock worth $737,000 after purchasing an additional 2,368 shares in the last quarter. Opal Capital LLC lifted its position in shares of Brookfield by 2,167.6% in the first quarter. Opal Capital LLC now owns 103,379 shares of the company’s stock worth $4,184,000 after purchasing an additional 98,820 shares in the last quarter. Amundi lifted its position in shares of Brookfield by 14.1% in the first quarter. Amundi now owns 2,696,723 shares of the company’s stock worth $109,136,000 after purchasing an additional 333,843 shares in the last quarter. Finally, Excelsior Advisor Network LLC purchased a new stake in shares of Brookfield in the first quarter worth approximately $235,000. 61.60% of the stock is owned by hedge funds and other institutional investors.

About Brookfield

Brookfield Corporation (NYSE:BN) is a global alternative asset manager that specializes in real assets. The company invests in and operates businesses across real estate, infrastructure, renewable power and energy, private equity and credit. Its activities span both ownership and active management of physical assets as well as the operation of investment funds and vehicles that provide institutional and retail investors access to long‑lived, cash‑generating assets.

Brookfield’s services include asset management, direct investing, property development and the operation of infrastructure and energy businesses.