HSBC raised the firm’s price target on Brookfield Asset Management (BAM) to $58 from $50 and keeps a Hold rating on the shares. HSBC believes the business environment for the alts industry will likely get better in 2025, but thinks it will be tough for the names to beat consensus expectations. The firm notes increased optimism around the potential opening up of the IPO market and animal spirits reinvigorating the M&A backdrop, and senses a general tone of confidence from the industry following the U.S. elections.
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