Brookfield Asset Management initiated with a Buy at UBS

UBS initiated coverage of Brookfield Asset Management (BAM) with a Buy rating and C$92 price target Given the “highly constructive backdrop” for scaled, private asset managers, Brookfield is entering a period of accelerating fee-related earnings growth over the coming years as fundraising activity picks up and capital markets rebound, the analyst tells investors in a research note. The firm says its conviction in the company’s ability to achieve its five-years targets is high.