BMO Capital Reiterates Outperform on Brookfield Asset Management (BAM)
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
BMO Capital reiterated an Outperform rating on Brookfield Asset Management (NYSE: BAM), and raised the price target to $42.00 (from $40.00). IDRs are growing at a faster pace than overall AUM as distributions at the public affiliates continue to grow and punch through the distribution thresholds.
Analyst Bert Powell commented, "We believe BAM’s trajectory in AUM, fee revenue, and the leverage in the asset manager that enables fee-related earnings to grow faster than AUM growth is under appreciated and undervalued. We believe the market continues to view BAM as complex, but in reality it is easier to understand today than at any time in its recent past. In this report we offer a 'simplified' overview, some undocumented features of the business model, and update the asset management deep dive we published last year to reflect BBU and recent fund raising."
Shares of Brookfield Asset Management closed at $34.93 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies Cuts Price Target on Kroger (KR) to $30 Following 3Q and Guidance
- Oppenheimer Cuts Price Target on Workday (WDAY) Following 3Q; Reiterates Outperform
- Jefferies Cuts Price Target on Eros Int'l (EROS) to $18 Following Multi-Year Deal
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesBMO Capital, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!