Brookfield Asset Management (BAM) PT Lowered to $60 at Piper Sandler

Piper Sandler analyst John Barnidge lowered the price target on Brookfield Asset Management (NYSE: BAM) to $60.00 (from $65.00) while maintaining a Neutral rating.

The analyst commented: "Expecting to Double Earnings by 2030; On Wednesday, Brookfield hosted its investor day in New York City, which included presentations from CEO Bruce Flatt, President Conor Teskey, CFO Hadley Peer Marshall, and others. We believe the key takeaways include the company's target to double AUM and earnings over the next five years. In addition, digital infrastructure and the individual opportunity including 401Ks are significant tailwinds which will likely benefit BAM for years to come. We are reiterating our Neutral rating, but decreasing our PT to $60 from $65, which is based on ~30x (~32.5x prev.) 2026E adj. EPS. The lower multiple is driven by recent peer multiple contraction."

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