Brookfield Asset price target lowered to $58 from $62.50 at Scotiabank

Scotiabank lowered the firm’s price target on Brookfield Asset Management (BAM) to $58 from $62.50 and keeps an Outperform rating on the shares. The firm maintains its rating on the stock but lowers its price target due to public market volatility, the analyst tells investors. Scotiabank remains confident in the company’s structural mid-teen per share growth profile, which should generate similar share total returns over time.