Scotiabank Boosts Brookfield Business Partners (NYSE:BBU) Price Target to $31.00

Brookfield Business Partners (NYSE:BBU) had its price objective boosted by analysts at Scotiabank from $29.00 to $31.00 in a report released on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the business services provider’s stock. Scotiabank’s price target would indicate a potential upside of 14.14% from the stock’s previous close.

Several other research firms have also weighed in on BBU. Royal Bank Of Canada started coverage on shares of Brookfield Business Partners in a research note on Wednesday, June 18th. They issued an “outperform” rating and a $33.00 price objective on the stock. CIBC dropped their price objective on shares of Brookfield Business Partners from $34.00 to $30.00 and set an “outperformer” rating on the stock in a research note on Monday, April 28th. Finally, National Bankshares dropped their price objective on shares of Brookfield Business Partners from $36.00 to $32.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, Brookfield Business Partners presently has an average rating of “Buy” and an average target price of $32.00.

Brookfield Business Partners Stock Up 3.8%

BBU stock opened at $27.16 on Friday. Brookfield Business Partners has a 12 month low of $17.88 and a 12 month high of $27.24. The firm has a market cap of $2.41 billion, a PE ratio of -79.88 and a beta of 1.32. The firm has a 50 day simple moving average of $24.65 and a 200 day simple moving average of $23.34. The company has a debt-to-equity ratio of 2.97, a current ratio of 1.48 and a quick ratio of 1.21.

Institutional Trading of Brookfield Business Partners

Several large investors have recently added to or reduced their stakes in the business. BROOKFIELD Corp ON grew its position in Brookfield Business Partners by 72.5% in the first quarter. BROOKFIELD Corp ON now owns 44,152,007 shares of the business services provider’s stock worth $1,035,806,000 after acquiring an additional 18,549,503 shares in the last quarter. Royal Bank of Canada grew its position in Brookfield Business Partners by 0.8% in the fourth quarter. Royal Bank of Canada now owns 7,718,131 shares of the business services provider’s stock worth $180,759,000 after acquiring an additional 64,007 shares in the last quarter. PCJ Investment Counsel Ltd. grew its position in Brookfield Business Partners by 6.6% in the fourth quarter. PCJ Investment Counsel Ltd. now owns 1,618,655 shares of the business services provider’s stock worth $38,041,000 after acquiring an additional 99,763 shares in the last quarter. TD Waterhouse Canada Inc. grew its position in Brookfield Business Partners by 2.3% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,020,778 shares of the business services provider’s stock worth $22,506,000 after acquiring an additional 22,713 shares in the last quarter. Finally, Bank of Montreal Can grew its position in Brookfield Business Partners by 11.3% in the fourth quarter. Bank of Montreal Can now owns 928,564 shares of the business services provider’s stock worth $21,871,000 after acquiring an additional 94,052 shares in the last quarter. 85.04% of the stock is owned by institutional investors.

About Brookfield Business Partners

Brookfield Business Partners L.P. is a private equity firm specializing in acquisition. The firm typically invests in business services, infrastructure services, construction, energy, and industrials sector. It prefers to take majority stake in companies. The firm seeks returns of at least 15% on its investments.