Berkshire Hathaway Inc. (BRK.B) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Berkshire Hathaway Inc. (NYSE:BRK.B) from a sell rating to a hold rating in a research note released on Monday.

According to Zacks, “Shares of Berkshire have outperformed the industry quarter to date. Its inorganic story remains impressive with strategic acquisitions. Continuous investment through strategic buyouts testifies confidence in business environment in the Trump era. The company’s strong cash position allows it to make earnings-accretive bolt-on acquisitions. Demand for utilities is expected to rise in the future and drive earnings growth. Continued insurance business growth also fuels increase in float. A sturdy capital level further adds impetus to the company. However, the company’s insurance business generates maximum return on equity and thus exposure to catastrophe loss remains a concern. Huge capital expenses on account of railroad operations remain headwinds. Capital expenditure is estimated at $2.6 billion for the remainder of 2017. The company also witnessed its estimates moving down in the last 30 days.”

Several other equities research analysts have also issued reports on the company. Morgan Stanley raised their price objective on Berkshire Hathaway from $181.00 to $189.00 and gave the company an equal weight rating in a research note on Wednesday, November 8th. Vetr raised Berkshire Hathaway from a buy rating to a strong-buy rating and set a $204.74 price objective for the company in a research note on Monday, September 25th. J P Morgan Chase & Co assumed coverage on Berkshire Hathaway in a research note on Thursday, September 14th. They issued an overweight rating and a $210.00 price objective for the company. BidaskClub raised Berkshire Hathaway from a buy rating to a strong-buy rating in a research note on Wednesday, August 23rd. Finally, Barclays PLC raised their price objective on Berkshire Hathaway from $191.00 to $205.00 and gave the company an overweight rating in a research note on Friday, August 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. Berkshire Hathaway has a consensus rating of Buy and an average price target of $202.19.

Berkshire Hathaway (NYSE BRK.B) traded down $1.53 during trading hours on Monday, hitting $181.81. The stock had a trading volume of 4,004,400 shares, compared to its average volume of 3,319,781. The company has a market cap of $450,150.00, a price-to-earnings ratio of 29.15, a price-to-earnings-growth ratio of 4.02 and a beta of 0.87. Berkshire Hathaway has a 1-year low of $156.02 and a 1-year high of $190.68.

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