Brookfield Ord Shs Class A T.BN

More Raised Targets

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BMO’s Sohrab Movahedi to US$44 from US$42 with an “outperform” rating, Canaccord Genuity’s Mark Rothschild to US$42.50 from US$41 with a “hold” rating and Scotia’s Mario Saric to US$50 from US$49 with a “sector outperform” rating. The average is US$49.27.

“The key takeaway from Q4 results is that BN expects to repurchase at least $1billion in stock over the next few months, an acceleration from $0.6-billion throughout 2023,” said Mr. Movahedi. “2024 earnings growth prospects appear favorable with the continued scaling of asset management and insurance earnings alongside potential for improving real estate fundamentals. The net result is BN’s discount to NAV has narrowed to 15 per cent, an improvement from 40 per cent a year ago.”