Bank of America Securities Reaffirms Their Hold Rating on Brookfield Asset Management Ltd. Class A (BAM)

In a report released yesterday, Craig Siegenthaler from Bank of America Securities reiterated a Hold rating on Brookfield Asset Management Ltd. Class A, with a price target of $70.00.

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According to TipRanks, Siegenthaler is a 5-star analyst with an average return of 17.5% and a 61.15% success rate. Siegenthaler covers the Financial sector, focusing on stocks such as Affiliated Managers, BlackRock, and Interactive Brokers.

In addition to Bank of America Securities, Brookfield Asset Management Ltd. Class A also received a Hold from J.P. Morgan’s Ken Worthington in a report issued on February 5. However, on the same day, Scotiabank maintained a Buy rating on Brookfield Asset Management Ltd. Class A (TSX: BAM).

Based on Brookfield Asset Management Ltd. Class A’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of C$1.24 billion and a net profit of C$715.97 million. In comparison, last year the company earned a revenue of C$170 million and had a net profit of C$129 million

Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BAM in relation to earlier this year.