TD Newcrest Initiates Coverage on Brookfield Asset Management (BAM) with a Buy
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TD Newcrest initiates coverage on Brookfield Asset Management (NYSE: BAM) with a Buy. Price target $18.
TD analyst says, "We believe that Brookfield’s property, renewable power and infrastructure assets are typically long-life, high quality, capable of generating substantial free cash flows and are financed on a conservative basis. Although the company brands itself as a growing asset manager, Brookfield is a proven operator of property, power and infrastructure assets with a deep operating history. Brookfield recently had $3.7 billion of liquidity, which, coupled with its solid ‘A-low’ investment grade rating, positions it well, in our view, to capitalize on potential distressed asset opportunities. We believe that Brookfield will continue to have access to capital through both the capital markets and its coinvestment partners."
Brookfield Asset Management Inc. (Brookfield) is a global asset management company. The Company operate and manage assets in property, renewable power, infrastructure, specialty investment funds, and fixed income and real estate securities.
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