These Analysts Increase Their Forecasts On Brookfield Asset Management After Strong Q3 Results

Brookfield Asset Management (NYSE:BAM) on Friday posted better-than-expected results for the third quarter.

The company reported quarterly earnings of 47 cents per share which missed the analyst consensus estimate of 52 cents per share. The company reported quarterly sales of $2.149 billion which beat the analyst consensus estimate of $1.578 billion.

Connor Teskey, CEO of Brookfield Asset Management, said, “Our business continues to benefit from our leading positions in the largest and fastest growing segments of the alternatives market. Year-to-date fundraising reached $123 billion, and fee-bearing capital grew 13% over the past year to $682 billion, driving fee-related earnings up 15% to $864 million.”

Brookfield Asset Mgmt shares gained 2.4% to trade at $54.24 on Monday.

These analysts made changes to their price targets on Brookfield Asset Mgmt following earnings announcement.

• Scotiabank analyst Mario Saric maintained the stock with a Sector Outperform and raised the price target from $59 to $60.5.
• Piper Sandler analyst Crispin Love maintained the stock with a Neutral and raised the price target from $49 to $52.

Considering buying BAM stock? Here’s what analysts think:

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