Brookfield Corp. price target raised to $61 from $55 at TD Securities

TD Securities raised the firm’s price target on Brookfield Corp. (BN) to $61 from $55 and keeps an Action List Buy rating on the shares ahead of the Q4 report. The analyst believes Brookfield will achieve its goal of raising close to $100B in 2023, a “significant achievement amid one of the most difficult fundraising environments seen in years. However, regulatory approval of the American Equity (AEL) deal, which should add another $50B of fee-bearing capital, appears unlikely prior to late Q1, which might cause some short-term investor disappointment, the analyst tells investors in a research note. The firm believes Brookfield is entering 2024 “from a position of strength.”