Wells Fargo analyst Michael Brown raised the firm’s price target on Brookfield Asset Management (BAM) to $54 from $48 and keeps an Underweight rating on the shares. The firm notes the company reported a decent Q1, although the positive stock reaction seemed to be more on a sigh of relief and reassuring commentary than on the likelihood of upward revisions. Wells remains bearish on the name given risk to Street management fee and EPS estimates and on valuation.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BAM:
- Cautious Outlook and Valuation Concerns Lead to Sell Rating for Brookfield Asset Management
- Brookfield Asset Management: Positioned for Growth Amid Mixed Financials
- Brookfield Asset Management’s Earnings Call Highlights Resilience and Growth
- Brookfield Asset Management Reports Record First-Quarter Results
- Brookfield Asset Management reports Q1 EPS 36c, consensus 41c