Today, we are moving shares of Brookfield Asset Management (BAM) from Unrated to Sell.
Investors in our Buy-rated Brookfield Re (BNRE) received shares of Brookfield Asset Management in its December 12, 2022, spin-off. BAM shares were “Unrated” as the company is not in a turnaround situation, and as such, we anticipated moving our rating to Sell in the near future.
Brookfield Asset Management is a high-quality company with exceptional management and an impressive business model. Our move to sell is in no way a reflection of the merits of this company.
The shares have rebounded to a satisfactory degree following their post-spin sell-off, thus driving our move to Sell today.
The shares have gained about 5% since their first-day closing price of 32.40.
