Why Brookfield Stock Surged Nearly 16% in November
Shares of Brookfield (NYSE: BN) rallied by 15.8% in November, according to data provided by S&P Global Market Intelligence. The leading global investment firm got boosts both from its third-quarter results and from news that notable billionaire investor Bill Ackman had loaded up on its stock.
Brookfield reported its third-quarter results in mid-November. The investment firm posted a record $1.3 billion in distributable earnings before realizations, a 19% rise from the prior-year period.
Its asset management business grew its fee-related earnings by 14%, driven by a 23% increase in fee-related capital. The company also completed its strategic partnership transaction with Castlelake and closed on its acquisition of SVB capital through its Pinegrove capital Partners venture investment platform with Sequoia Heritage. Those deals will enhance its growth prospects.
Source Fool.com
Brookfield Corp. Stock
Currently there is a rather positive sentiment for Brookfield Corp. with 11 Buy predictions and 4 Sell predictions.
With a target price of 54 € there is a positive potential of 48.39% for Brookfield Corp. compared to the current price of 36.39 €.
