Revised Targets JP Morgan’s Ken Worthington raised his Brookfield Corp. target to US$48 from US$47 with an “overweight” recommendation. Other changes include: Scotia’s Mario Saric to US$45 from US$47.50 with a “sector outperform” rating, TD Securities’ Cherilyn Radbourne to US$55 from US$54 with an “action list buy” rating, CIBC’s Dean Wilkinson to US$42 from US$47 with an “outperformer” rating and KBW’s Michael Brown to US$37 from US$36 with a “market perform” rating. The average is US$45.69.
“Overall, BN delivered a decent DE beat, giving us confidence that the thesis is heading in the right direction, with a ‘Soft’ landing = particularly constructive for sentiment, in our view,” said Mr. Saric. “Valuation remains really cheap, bordering on highly compelling. While BN should naturally appeal to ‘Value’ investors, we think ‘Growth’ folk should take a look too.”