Alexander Blostein, an analyst from Goldman Sachs, has initiated a new Buy rating on Brookfield Corporation (BN).
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Alexander Blostein has given his Buy rating due to a combination of factors that highlight Brookfield Corporation’s potential for growth and value. The company benefits from its extensive and diversified asset base, which includes significant holdings in real estate, infrastructure, and renewable energy, among others. This broad portfolio is complemented by Brookfield’s substantial ownership in Brookfield Asset Management, providing expertise and stability.
Blostein emphasizes the company’s ability to generate excess capital, which is expected to accelerate in the coming years, leading to increased book value growth and higher returns on equity. The anticipated improvement in cash flow from the Real Estate sector, along with growth in performance fees and insurance, supports this outlook. Additionally, Brookfield’s current trading multiples suggest it is undervalued compared to peers, offering a compelling investment opportunity with a projected price target of $78, representing a significant upside.
Based on the recent corporate insider activity of 34 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 BN in relation to earlier this year.