Piper Sandler lowered the firm’s price target on Brookfield Asset Management (BAM) to $60 from $65 and keeps a Neutral rating on the shares. The firm notes that on Wednesday, Brookfield hosted its investor day in New York City, which included presentations from CEO Bruce Flatt, President Conor Teskey, CFO Hadley Peer Marshall, and others. Piper believes the key takeaways include the company’s target to double AUM and earnings over the next five years. In addition, digital infrastructure and the individual opportunity including 401Ks are significant tailwinds, which will likely benefit Brookfield Asset Management for years to come.
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