Brookfield Asset Management price target lowered to $65 from $74 at RBC Capital

RBC Capital analyst Bart Dziarski lowered the firm’s price target on Brookfield Asset Management (BAM) to $65 from $74 and keeps an Outperform rating on the shares. The company is well positioned heading into its fundraising cycle with private equity, infrastructure flagships and 60 strategies in total fundraising driving RBC’s estimated $150B of fundraising, the analyst tells investors in a research note. RBC adds however that it is cutting its price target to a multiple closer to Brookfield’s closest peer Blackstone (BX).