Berkshire Hathaway Inc. (NYSE:BRK.B) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage 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%.”
A number of other research firms have also recently weighed in on BRK.B. Vetr upgraded shares of Berkshire Hathaway from a “sell” rating to a “hold” rating and set a $143.18 price target on the stock in a report on Monday, September 12th. Keefe, Bruyette & Woods restated a “market perform” rating on shares of Berkshire Hathaway in a report on Thursday, August 18th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Berkshire Hathaway presently has an average rating of “Buy” and an average price target 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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