01:45:15 EDT Sun 01 Oct 2023
Enter Symbol
or Name

Brookfield Asset Management Inc
Symbol BAM
Shares Issued 412,201,980
Close 2023-01-09 C$ 41.49
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Globe says Brookfield Asset kept at "outperform"

2023-01-09 08:36 ET - In the News

The Globe and Mail reports in its Saturday, Jan. 7, edition that RBC analyst Geoffrey Kwan last week released his 2023 outlook for Canadian diversified financial companies titled Kind of like finding sharks with laser beams attached to their heads. The Globe's David Leeder writes that Mr. Kwan says in a note: "Inflation remains elevated, interest rates continue to increase and economic data continue to weaken, yet equity markets have pulled back (S&P/TSX down 13 per cent, S&P500 down 20 per cent since their peaks). Consequently, we think stock-picking in Diversified financials might be almost as tricky as trying to find sharks with laser beams attached to their heads (or even ill-tempered mutated sea bass) and require a more dynamic approach. Defensive stocks significantly outperformed within our coverage in 2022 and we think it's still prudent to remain defensive to start 2023, but market conditions could change warranting a pivot to more offensive stocks." Mr. Kwan's No. 3 best idea is Brookfield Asset Management is one of Mr. Kwan's top picks. He rates the shares "outperform," with a $35 (U.S.) share target. Mr. Kwan says he likes Brookfield's positive fundamentals and its "reasonable valuation."

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