BUZZ-J.P. Morgan raises Brookfield PT on insurance business tailwinds, fundraising strength

J.P. Morgan raises PT on alternative asset manager Brookfield Corp BN.TO to $66 from $61, citing accelerating insurance flows and fundraising strength

New PT is an over 8.52% upside to stock's last close

Brokerage says the insurance business could be a key growth engine looking ahead

Says co has demonstrated substantial recent progress on insurance front, both organically and inorganically

"We have seen the anticipation of fundraising drive other alternative asset manager stocks to outperform, and we expect the same for Brookfield," says brokerage

Two of 3 brokerages rate stock "buy" or higher, and 1 "hold"; median PT is $64 - data compiled by LSEG

Stock is up nearly 7% YTD after climbing over 43% in 2024