Brookfield Business Partners (BBU) Gets a Buy Rating from RBC Capital

By Ryan Adsit

In a report released today, Geoffrey Kwan from RBC Capital maintained a Buy rating on Brookfield Business Partners (BBUResearch Report), with a price target of $34.00. The company’s shares closed last Thursday at $29.17.

According to TipRanks.com, Kwan is a 1-star analyst with an average return of -1.3% and a 39.8% success rate. Kwan covers the Financial sector, focusing on stocks such as Element Financial, Equitable Group, and IGM Financial.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Brookfield Business Partners with a $34.92 average price target, a 22.4% upside from current levels. In a report issued on April 22, National Bank also maintained a Buy rating on the stock with a C$42.00 price target.

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Based on Brookfield Business Partners’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $11.32 billion and GAAP net loss of $57 million. In comparison, last year the company earned revenue of $10.21 billion and had a net profit of $70 million.

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Brookfield Business Partners LP specializes in business services and industrial operations. It operates though the following segments: Business services, Infrastructure services, Industrial operations, and Corporate and other. The Business Services segment relates to residential real estate, facilities management and financial advisory services. The new infrastructure services segment is currently comprised of a global provider of infrastructure services to the power generation industry. The industrial operations segment consists primarily of specialty metal and aggregates mining operations in Canada, select industrial manufacturing operations, comprised principally of the global production of graphite electrodes and the manufacturing of infrastructure support products in Canada, water and wastewater services in Brazil, and natural gas exploration and production. The corporate and other includes corporate cash and liquidity management, as well as activities related to the management of the partnership’s relationship with Brookfield. The company was founded on October 1, 2015 and is headquartered in Hamilton, Bermuda.