HSBC raised the firm’s price target on Brookfield Asset Management to $45 from $43 and keeps a Hold rating on the shares. While the alternative asset management industry has historically enjoyed significant growth, the past couple of years “have not been easy from a fundraising perspective,” notes the analyst, who also notes incremental optimism from most management teams in terms of asset values bottoming out and the market opening up to get deals over the line. For Brookfield, the firm fails to see any catalyst that could drive the share price significantly up in the near term.
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