RBC Capital Markets raised its price target on Brookfield Corp. (BN.TO, BN) to US$67 from US$56.
Analyst Robert Kwan maintained an Outperform rating on shares of the Canadian alternative investment management companies.
"We continue to believe that there is attractive upside in BN's shares with respect to closing the discount to our estimated net asset value (NAV)," Kwan said in a note to clients.
"In particular, we point to potential future actions that should be catalysts for share price improvement, namely asset monetizations at BN (i.e., real estate) and its various affiliates, as well as the continuation of its plan to allocate capital to share buybacks," the analyst said.
"While 2024 has been a strong year, management noted on the conference call that '2025 should be better.'"
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