RBC Capital Sticks to Its Buy Rating for Brookfield Asset Management Ltd. Class A (BAM)

In a report released yesterday, Bart Dziarski from RBC Capital reiterated a Buy rating on Brookfield Asset Management Ltd. Class A, with a price target of $74.00. The company’s shares closed yesterday at C$67.88.

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Dziarski covers the Financial sector, focusing on stocks such as Brookfield Asset Management Ltd. Class A, Brookfield Corporation, and Fairfax Financial Holdings. According to TipRanks, Dziarski has an average return of 7.7% and a 75.47% success rate on recommended stocks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Brookfield Asset Management Ltd. Class A with a $64.61 average price target, implying a -4.81% downside from current levels. In a report released yesterday, TipRanks – PerPlexity also upgraded the stock to a Buy with a C$72.00 price target.

Based on Brookfield Asset Management Ltd. Class A’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$1.15 billion and a net profit of C$620 million. In comparison, last year the company earned a revenue of C$861 million and had a net profit of C$495 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.