Brookfield (BN) may benefit from stronger distributable earnings, continued stock buybacks, growth at Brookfield Wealth Solutions (BNT), higher carried interest and several near-term catalysts, while its valuation remains attractive, RBC Capital Markets said Friday in a report.

RBC expects distributable earnings per share to reach $4.43 in 2028, implying 15% annual growth and a 22% compound annual growth rate from 2026.

Real estate earnings and earnings from listed businesses are expected to each grow about 5% in 2028, the report said.

RBC expects Brookfield to continue buying back stock, forecasting $900 million of repurchases in 2026 and $1.2 billion in 2027.

Upcoming catalysts include the September investor day, the expected closing of the Brookfield-Brookfield Wealth Solutions deal by the end of 2026, and the move to US GAAP in Q1 2027, the report said.

RBC maintained its outperform rating on Brookfield stock and its $61 price target.

Brookfield shares fell 3.6% in Friday trading, and Brookfield Wealth Solutions dropped 2.2%.

Price: 43.50, Change: -1.61, Percent Change: -3.57