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Brookfield Asset Management loses Buy rating at CIBC

  • CIBC World Markets downgrades Brookfield (BAM -3.2%) to Hold from Buy, the move coming just a few sessions after last week's Q2 earnings report.
  • On the earnings call (transcript), CIBC's Alex Avery queried management about which part of the world it sees the best opportunities going forward, noting it recently passed on an interesting Brazilian opportunity. Management passes on a lot of deals, says President James Flatt, but will continue investing in Brazil and expects India to be a source of growth as well. He's notably less enthused about China.
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