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  5. BN: Brooke field seems to have found it’s much overdue mojo the last couple of days. [Brookfield Corporation Class A Limited Voting Shares]
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Q: Brooke field seems to have found it’s much overdue mojo the last couple of days..what are the reasons? Is this expected to persist? Thanks.

Shyam
Asked by Shyam on October 11, 2023
5i Research Answer:

KBW cut its target price on BN today from $33 to $31. BN has also started its exchange offer to exchange up to 40M BN shares for newly-issued BNRE shares. But we see no other news of interest. BN is now up 6% for the year. It will still be tied to the general market and interest rates but we consider the outlook to be good for the fourth quarter. 

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