The Globe and Mail reports in its Wednesday, July 30, edition that National Bank Financial analyst Jaeme Gloyn began coverage on Brookfield Asset Management with an "outperform" recommendation and a $71 share target (all figures U.S.). The Globe's David Leeder writes that analysts on average target the shares at $59.12. Mr. Gloyn says in a note: "Brookfield Asset Management is 73 per cent owned by Brookfield Corp. ... Brookfield Asset benefits from management fees, performance fees and carried interest on its managed funds. We believe Brookfield Asset better fits investors looking for a pure-play asset manager with healthy earnings compounding and a greater focus on income (Brookfield Asset yields 3 per cent vs. Brookfield Corp. 0.5-per-cent yield). We apply a target multiple of 35 times on our NTM+1YR distributable earnings estimates. This represents a premium to the current trading multiple and Brookfield Asset's average trading multiple of 31 times over the past 12 months. We believe Brookfield Asset merits a premium valuation given the high-quality, diverse and perpetual nature of the earnings stream, a strong growth outlook, fee-related earnings margin expansion and a capital-light business model."