Brookfield Business Partners price target lowered to $29 from $33 at Scotiabank

Scotiabank lowered the firm’s price target on Brookfield Business Partners (BBU) to $29 from $33 and keeps an Outperform rating on the shares. Near term stock performance in the Diversified Financial sector is expected to continue to be impacted by shifts in “investor risk appetite” and continues to recommend a barbell approach to the sector by balancing quality defensive with attractive value opportunities, the analyst tells investors.