Brookfield Asset price target raised to $59.50 from $55.50 at Scotiabank

Scotiabank raised the firm’s price target on Brookfield Asset Management (BAM) to $59.50 from $55.50 and keeps an Outperform rating on the shares. The firm is “surprised” with the company’s share price strength following a decent Q3 earnings beat, the analyst tells investors. Overall, the firm is relying more on per share growth than in-place dividend yield for the stock’s current rating.