BMO Capital Reiterates Outperform on Brookfield Asset Management (BAM)

September 26, 2016 8:39 AM EDT
Get Alerts BAM Hot Sheet
Price: $35.44 -0.7%

Rating Summary:
    7 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 23 | New: 30
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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."

For an analyst ratings summary and ratings history on Brookfield Asset Management click here. For more ratings news on Brookfield Asset Management click here.

Shares of Brookfield Asset Management closed at $34.93 yesterday.

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