Key Takeaways
- • Scotiabank analyst Mario Saric maintained a Buy rating on Brookfield Asset Management Ltd. Class A (TSX: BAM) with a price target of $60.50, according to TipRanks.
- • Goldman Sachs' Alexander Blostein also issued a Buy rating on BAM the same day, while Piper Sandler assigned a Hold rating.
- • BAM's latest earnings release for the quarter ending June 30 reported quarterly revenue of C$1.71 billion and net profit of C$880.67 million, versus C$1.15 billion revenue and C$620 million net profit a year earlier.
- • TipRanks data shows corporate insider sentiment on BAM is negative, with insiders selling more shares over the past quarter than earlier in the year.
Summary
Scotiabank's Mario Saric maintained a Buy rating on Brookfield Asset Management Ltd. Class A (TSX: BAM) in a report released on the day of the item, setting a price target of $60.50, according to TipRanks. Saric covers the real estate sector, with coverage that includes Allied Properties Real Estate Investment Trust, RioCan Real Estate Investment Trust and Crombie Real Estate. TipRanks reports that Saric has an average return of 12.3% and a 66.07% success rate on recommended stocks.
The rating is one of several recent analyst actions on the stock. Goldman Sachs' Alexander Blostein also assigned a Buy rating in a report issued the same day, while Piper Sandler assigned a Hold rating. Per the item's related headlines, Piper Sandler raised its price target to $52 from $49, Goldman Sachs raised its target to $59 from $52, and BofA lowered its target to $58 from $60.
Based on BAM's latest earnings release for the quarter ending June 30, the company reported quarterly revenue of C$1.71 billion and net profit of C$880.67 million, compared with revenue of C$1.15 billion and net profit of C$620 million a year earlier, according to TipRanks. TipRanks also reports that corporate insider sentiment is negative, with insider selling increasing over the past quarter relative to earlier in the year, based on activity by 28 insiders.
The rating is one of several recent analyst actions on the stock. Goldman Sachs' Alexander Blostein also assigned a Buy rating in a report issued the same day, while Piper Sandler assigned a Hold rating. Per the item's related headlines, Piper Sandler raised its price target to $52 from $49, Goldman Sachs raised its target to $59 from $52, and BofA lowered its target to $58 from $60.
Based on BAM's latest earnings release for the quarter ending June 30, the company reported quarterly revenue of C$1.71 billion and net profit of C$880.67 million, compared with revenue of C$1.15 billion and net profit of C$620 million a year earlier, according to TipRanks. TipRanks also reports that corporate insider sentiment is negative, with insider selling increasing over the past quarter relative to earlier in the year, based on activity by 28 insiders.
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