Berkshire Hathaway Inc. (NYSE:BRK.B) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “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. Capital expenditure for 2017 is estimated to be $6.5 billion in 2017. However, Berkshire Hathaway’s exposure to catastrophe losses, Buffett’s succession and huge capital expenses on account of its railroad operations remain headwinds. Shares of Berkshire Hathaway have underperformed the Zacks categorized Property and Casualty industry quarter to date. The company did not witness any earnings momentum over the last 30 days.”
Other equities analysts have also recently issued research reports about the company. Vetr raised Berkshire Hathaway from a “hold” rating to a “buy” rating and set a $177.41 price objective for the company in a research report on Wednesday, June 21st. Evercore ISI reissued an “underweight” rating on shares of Berkshire Hathaway in a research report on Monday, February 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Berkshire Hathaway currently has an average rating of “Hold” and a consensus price target of $168.71.
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Berkshire Hathaway Company Profile
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