TSX:BAM - Post Discussion
Post by
retiredcf on Nov 10, 2021 9:20am
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Credit Suisse analyst Andrew Kuske bumped up his Brookfield Asset Management Inc. target to US$63 from US$54, reiterating a “neutral” rating. The average is $64.54.
“After a general lull, BAM’s overall deployment activity markedly increased – rather importantly on external transactions versus solely the re-packaging of the real estate portfolio,” he said. “These are positive elements for the continued growth of the Brookfield franchise. Beyond faster deployments and related fund raising, the continued growth of Brookfield’s insurance unit and real estate re-packaging look to aid funds flow and capital efficiency. Those major areas could also result in greater carry generation than in our views. Ultimately, we like several aspects of the Brookfield business, but just look for a better entry point.”
“BAM’s core franchise and overall platform continues to be positively positioned on a longer-term basis. Most recently, the firm’s fund raising, deal deployment and monetizations collectively accelerated. Continued progress with these efforts, growth from the insurance business along with accelerated real estate re-packaging could result in upside to our existing forecasts and valuation.”
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