Is Brookfield Asset Management (BAM) a Buy, Hold, or Sell in 2026?

Brookfield Asset Management (BAM) has long been a cornerstone of global alternative asset management, but as 2026 approaches, investors are scrutinizing its trajectory with renewed intensity. With a mix of cautious optimism and strategic momentum, the company's investment outlook hinges on three critical pillars: analyst consensus, price targets, and earnings performance. This analysis synthesizes recent data to determine whether BAM warrants a "buy," "hold," or "sell" recommendation for 2026.

Analyst Consensus: A Split but Generally Cautious Outlook

As of late 2025, the analyst consensus for BAM remains divided but leans toward a "Hold" or "Moderate Buy" rating. According to a report by Public.com, 12 analysts have assigned a "Hold" rating, while 19 have labeled it a "Moderate Buy," with only 2 recommending a "Sell" and 10 advising a "Buy." This suggests a market that acknowledges BAM's long-term potential but remains wary of near-term volatility. The average price target of $64.32-a 22.07% upside from its current price of $52.69-reflects this duality, with a wide range of $54.00 to $76.00 based on forecasts.

The median target of $64.00, based on 21 Wall Street analysts, further underscores a middle-ground approach. While some analysts project a conservative 0.6% increase to $54.00, others forecast a bold 41.6% upside to $76.00 according to market analysis. This divergence highlights divergent views on BAM's ability to capitalize on its recent strategic moves, such as the acquisition of the remaining 26% stake in Oaktree Capital Management, which is expected to bolster its global credit platform according to earnings call highlights.

Earnings Momentum: Strong Fundraising, Mixed Short-Term Results

Brookfield's Q3 2025 earnings report revealed a mixed but largely positive performance. Fee-related earnings surged 17% year-over-year to $754 million, while distributable earnings rose 7% to $661 million. The company also raised $30 billion in Q3 alone, with total inflows over the past 12 months exceeding $100 billion-the highest pace of organic fundraising in its history according to financial reports. These figures underscore BAM's resilience in a challenging market environment and its ability to attract capital amid shifting investor priorities.

However, short-term results were not without hiccups. Brookfield Corporation reported an EPS of $0.56 for Q3 2025, falling short of the expected $0.5874-a 4.66% negative surprise. Despite this, revenue met expectations at $1.57 billion, and distributed earnings grew by 18% year-over-year to $1.3 billion according to earnings data. The company's guidance for Q4 2025 and Q1 2026, at $0.38 and $0.42 per share respectively, provides a baseline for near-term expectations based on market analysis.

Looking ahead, BAM's 2026 outlook is cautiously optimistic. The firm aims to surpass its 2025 fundraising range of $85–$90 billion, driven by new flagship fund launches and recent acquisitions according to earnings commentary. Additionally, its five-year plan to double the business by 2030-targeting $5.8 billion in fee-related earnings and $1.2 trillion in fee-bearing capital-positions BAM as a long-term growth story according to strategic outlook.

Strategic Positioning and Risks

BAM's strategic focus on AI infrastructure and nuclear energy projects adds another layer of complexity to its investment thesis. These sectors, while nascent, align with global trends toward decarbonization and technological innovation. However, their scalability and profitability remain unproven, introducing execution risk. Meanwhile, the company's $180 billion in deployable capital offers flexibility but also raises questions about capital allocation efficiency in a low-yield environment.

The upcoming Q4 2025 earnings report, scheduled for February 11, 2026, will be a critical inflection point. If the company meets or exceeds the $0.43 EPS estimate, it could reinforce confidence in its 2026 guidance. Conversely, a further miss might prompt a reevaluation of its growth narrative.

Conclusion: A "Hold" with Conditional Upside

In synthesizing the evidence, BAM appears best categorized as a "Hold" for 2026. The analyst consensus reflects a balanced view of its potential and risks, while its earnings momentum-though strong in fundraising-shows mixed short-term results. The company's strategic initiatives, particularly in credit and infrastructure, offer long-term upside but require time to materialize.

Investors should monitor two key factors: the execution of BAM's 2026 fundraising targets and the performance of its newly acquired assets. If these initiatives deliver as promised, the stock could trend toward its higher price targets. However, until then, a cautious approach seems prudent. For those with a longer time horizon and a tolerance for volatility, BAM's discounted valuation relative to its 2030 ambitions may present an attractive entry point.