Brookfield (NYSE:BN) Given New $52.00 Price Target at CIBC

Brookfield (NYSE:BN) had its target price hoisted by stock analysts at CIBC from $50.67 to $52.00 in a research note issued on Friday, MarketBeat reports. The firm currently has an “outperformer” rating on the stock. CIBC’s target price indicates a potential upside of 18.80% from the stock’s current price.

Several other brokerages also recently weighed in on BN. BMO Capital Markets increased their price target on Brookfield from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. TD Securities increased their target price on Brookfield from $49.33 to $54.67 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. The Goldman Sachs Group initiated coverage on shares of Brookfield in a research note on Tuesday, September 2nd. They set a “buy” rating and a $52.00 target price for the company. Zacks Research cut shares of Brookfield from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Finally, Wall Street Zen raised shares of Brookfield from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $53.47.

Brookfield Trading Down 0.0%

Brookfield stock traded down $0.01 during midday trading on Friday, reaching $43.77. The stock had a trading volume of 3,791,811 shares, compared to its average volume of 3,843,453. The company has a quick ratio of 1.18, a current ratio of 1.29 and a debt-to-equity ratio of 1.50. The firm has a market cap of $108.33 billion, a price-to-earnings ratio of 152.43 and a beta of 1.73. Brookfield has a 52-week low of $29.07 and a 52-week high of $49.47. The company has a fifty day moving average of $45.68 and a 200 day moving average of $42.76.

Institutional Trading of Brookfield

Institutional investors have recently modified their holdings of the company. Hilltop National Bank bought a new position in shares of Brookfield during the 2nd quarter worth approximately $30,000. Twin Peaks Wealth Advisors LLC purchased a new position in Brookfield in the second quarter worth $32,000. Ameritas Advisory Services LLC acquired a new position in shares of Brookfield during the second quarter worth $33,000. First Horizon Corp purchased a new stake in shares of Brookfield during the 3rd quarter valued at $40,000. Finally, Cary Street Partners Investment Advisory LLC boosted its position in shares of Brookfield by 109.3% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock worth $39,000 after purchasing an additional 330 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors.

About Brookfield

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.