Just caught that CIBC started covering BBU back in late February with an Outperformer rating, but here's the thing - their price target is $22.75, which is actually 33% lower than where it was trading at that time. Pretty interesting mixed signal if you ask me.

What's more telling to me is what the big money is doing. Brookfield Asset Management still holds nearly half the company at 49.29%, no movement. But I noticed Royal Bank of Canada actually cut their stake by over 16% last quarter - they went from 6.9M shares down to 5.9M. That's a pretty significant reduction from one of the major holders.

Fund sentiment looks slightly bullish though - the put/call ratio is sitting at 0.89, and total institutional positions are actually up by 0.10% to about 76.3M shares. So while some big players are trimming, the overall institutional crowd seems to still see potential in BBU. The revenue projections are down 53.77% though, which explains why analysts are cautious on the near-term price action.