Brookfield +4.5% as Credit Suisse upgrades on 'breakout' fundraising

|About: Brookfield Asset Management... (BAM)|By:, SA News Editor

Brookfield Asset Management (BAM +4.6%) surges after Credit Suisse upgrades shares to Outperform from Neutral with a $50 price target, up from $44, saying BAM is positioned for a breakout fund raising cycle.

The firm also thinks the stock's current valuation does not reflect the company's potential acceleration of growth.

In its Q3 earnings release yesterday, BAM beat easily bottom line estimates on revenues that rose 21% Y/Y, reporting that fundraising initiatives continue to see strong performance and the company ended the quarter with liquidity of $32B to be deployed into opportunities across its funds.

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