Brookfield Asset Management initiated with a Neutral at Piper Sandler

Piper Sandler initiated coverage of Brookfield Asset Management (BAM) with a Neutral rating and $60 price target The firm cites valuation for the Neutral rating, telling investors that the multiple appropriately reflects a best-in-class return profile. A significantly simplified organizational structure the last several years positions Brookfield for future S&P 500 inclusion as a possible catalyst, the firm says.