Royal Bank of Canada Lowers Brookfield Business Partners (BBU) Price Target to $46.00

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Brookfield Business Partners (NYSE:BBU) had its target price dropped by stock analysts at Royal Bank of Canada from $47.00 to $46.00 in a report issued on Tuesday. The brokerage presently has a “buy” rating on the business services provider’s stock. Royal Bank of Canada’s price target indicates a potential upside of 18.16% from the company’s current price.

Other research analysts have also issued research reports about the stock. Credit Suisse Group set a $54.00 price objective on shares of Brookfield Business Partners and gave the company a “buy” rating in a research note on Thursday, August 23rd. Scotiabank began coverage on shares of Brookfield Business Partners in a research note on Wednesday, September 19th. They issued a “hold” rating and a $49.00 price objective for the company. Finally, ValuEngine lowered shares of Brookfield Business Partners from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $48.75.

NYSE BBU opened at $38.93 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.29 and a debt-to-equity ratio of 0.90. Brookfield Business Partners has a one year low of $29.49 and a one year high of $46.55. The company has a market capitalization of $2.71 billion, a PE ratio of 340.58 and a beta of 1.91.

Several hedge funds and other institutional investors have recently bought and sold shares of BBU. Karpas Strategies LLC purchased a new position in Brookfield Business Partners in the third quarter worth approximately $233,000. Signition LP purchased a new position in Brookfield Business Partners in the third quarter worth approximately $279,000. Jane Street Group LLC purchased a new position in Brookfield Business Partners in the first quarter worth approximately $309,000. PCJ Investment Counsel Ltd. purchased a new position in Brookfield Business Partners in the second quarter worth approximately $575,000. Finally, Russell Investments Group Ltd. purchased a new position in Brookfield Business Partners in the first quarter worth approximately $658,000. 75.66% of the stock is owned by institutional investors and hedge funds.

About Brookfield Business Partners

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