Berkshire Hathaway Inc. (BRK.B) Upgraded at Zacks Investment Research
Berkshire Hathaway Inc. (NYSE:BRK.B) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm presently has a $160.00 price target on the stock.
According to Zacks, “Berkshire Hathaway’s inorganic story remains impressive with strategic acquisitions. Recently, the company announced to buy stakes in Apple, while during the first quarter the company increased its holdings in Visa and Bank of New York Mellon. The strong cash position also allows it to make earnings-accretive bolt-on acquisitions. A sturdy capital level adds to the overall strength as well. However, the company’s catastrophe exposure, Buffett’s succession and huge capital expenses on account of its railroad operations remain headwinds. The Zacks Consensus Estimate witnessed upward estimate revisions over the last 60 days, with the same inching up 0.3% to $7.25 for 2016, but not experiencing any revisions for 2017. Going by the surprise trend, the company delivered negative surprises in two of the last four quarters, with an average miss of 1.54%.”
Other equities research analysts have also issued research reports about the stock. Vetr lowered shares of Berkshire Hathaway from a “hold” rating to a “sell” rating and set a $143.18 price target for the company. in a research note on Thursday, August 18th. Keefe, Bruyette & Woods restated a “market perform” rating on shares of Berkshire Hathaway in a research note on Thursday, August 18th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Berkshire Hathaway currently has a consensus rating of “Buy” and a consensus price target of $156.39.
Berkshire Hathaway Company Profile
Berkshire Hathaway Inc is a holding company owning subsidiaries engaged in various business activities. The Company conducts insurance businesses on both a primary basis and a reinsurance basis, a freight rail transportation business and a group of utility and energy generation and distribution businesses.
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