Brookfield Asset Management upgraded to Outperform at BMO Capital

BMO Capital upgraded Brookfield Asset Management (BAM) to Outperform from Market Perform with an unchanged price target of $58 following the earnings report. The firm says the company’s prospects for mid-teens distributable earnings growth are “intact.” Brookfield Asset Management is seeing continued fundraising momentum across strategies as well as fee rate and margin “resiliency,” the analyst tells investors in a research note. BMO sees an attractive risk/reward at current share levels given the implied 4% dividend yield.