UPDATE: Scotia Capital Lowering Price Target on Brookfield Asset Management

Scotia Capital is out with a research report on Brookfield Asset Management BAM and it is lowering its price target to $34.25 from $35, but is keeping its Sector Outperform rating on shares. In a note to clients, Scotia Capital writes, "Core operations were stable. Asset management, commercial property, infrastructure, and power performed reasonably well, notwithstanding lower realized power prices. BAM indicated economics (fees) on fundraising haven't changed." Shares of BAM are up 5 cents to $28.54.