Goldman Sachs Initiates Brookfield Corporation (BN) With a Buy

Brookfield Corporation (NYSE:BN) is one of the Best TSX Stocks to Buy According to Billionaires. On September 2, Alexander Blostein from Goldman Sachs initiated coverage of Brookfield Corporation (NYSE:BN) with a Buy rating and a price target of C$92.

The analyst noted that the company has a large and diverse asset portfolio, including real estate, infrastructure, and renewable energy. Blostein believes that this diversification reduces the risk while supporting growth. Moreover, the company also owns a significant stake in Brookfield Asset Management, which adds expertise and stability. Blostein points out that Brookfield Corporation (NYSE:BN) is expected to generate increasing excess capital in the coming years, which should drive growth in book value and improve returns on equity.

Similarly, cash flow from the Real Estate segment is also forecasted to grow, along with performance fees and insurance income. As a result, Blostein sees this as an opportunity to buy undervalued shares with strong growth potential.

Brookfield Corporation (NYSE:BN) is a Canadian investment firm that focuses on building long-term wealth for institutions and individuals.

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Disclosure: None. This article is originally published at Insider Monkey.