Brookfield Asset Management price target lowered to $50 from $54 at Wells Fargo

Wells Fargo analyst Michael Brown lowered the firm’s price target on Brookfield Asset Management (BAM) to $50 from $54 and keeps an Underweight rating on the shares. The firm sees greatest impact for episodic fee streams from macro and cap markets uncertainty, but long-term outlook remains upbeat, and valuations are more attractive after year-to-date underperformance.