Zacks Investment Research upgraded shares of Berkshire Hathaway Inc. (NYSE:BRK.B) from a hold rating to a buy rating in a report issued on Wednesday. The firm currently has $160.00 target price 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%.”
A number of other analysts have also issued reports on the stock. Vetr upgraded shares of Berkshire Hathaway from a sell rating to a hold rating and set a $143.18 price objective on the stock in a research note on Monday, September 12th. Keefe, Bruyette & Woods reiterated a market perform rating on shares of Berkshire Hathaway in a research note on Thursday, August 18th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Berkshire Hathaway currently has an average rating of Buy and a consensus target price of $156.39.
About Berkshire Hathaway
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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