Zacks Investment Research upgraded shares of Berkshire Hathaway Inc. (NYSE:BRK.B) from a sell rating to a hold rating in a report published on Tuesday.
According to Zacks, “Shares of the company have outperformed the industry year to date. Berkshire Hathaway’s inorganic story remains impressive with strategic acquisitions. Continues investment through strategic acquisition testifies confidence in business environment post new President elect. The strong cash position also allows it to make earnings-accretive bolt-on acquisitions. Demand for utilities is expected to be strong in the future and drive earnings growth. A continued insurance business growth fuels increase in float. A sturdy capital level adds to the overall strength as well. However, Berkshire Hathaway’s exposure to catastrophe losses, Buffett’s succession and huge capital expenses on account of its railroad operations remain headwinds. Capital expenditure is estimated to be $4.8 billion for the remainder of 2017. Estimates have also moved down over the last 60 days.”
A number of other brokerages have also issued reports on BRK.B. Vetr upgraded shares of Berkshire Hathaway from a hold rating to a strong-buy rating and set a $204.74 target price on the stock in a research report on Tuesday, August 29th. J P Morgan Chase & Co began coverage on shares of Berkshire Hathaway in a research report on Thursday, September 14th. They set an overweight rating and a $210.00 target price on the stock. Finally, Barclays PLC upped their target price on shares of Berkshire Hathaway from $191.00 to $205.00 and gave the stock an overweight rating in a research report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $206.58.
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