Brookfield Business Partners price target lowered to $30 from $34 at CIBC

In a sector note on diversified financials, CIBC lowered the firm’s price target on Brookfield Business Partners (BBU) to $30 from $34 and keeps an Outperformer rating on the shares. The firm noted that Brookfield Business Partners reports Q1 earnings on May 2, and expects a “healthy focus on recent trade war developments, supply chain vulnerabilities and which companies will be most meaningfully impacted.” CIBC cited the “uncertain macro environment” and corresponding “softening of transaction activity” for the reduction of its price target