Brookfield Asset Management price target raised to $51 from $48 at Wells Fargo

Wells Fargo raised the firm’s price target on Brookfield Asset Management (BAM) to $51 from $48 and keeps an Underweight rating on the shares. The firm notes the stock rose 7.7% at intra-day peak and closed up 3% vs -1.5% for peers and -0.3% for S&P500. The company reported a decent quarter on strong expense discipline and fundraising, Wells adds.