Zacks Investment Research Downgrades Berkshire Hathaway Inc. (BRK.B) to Sell

Zacks Investment Research cut shares of Berkshire Hathaway Inc. (NYSE:BRK.B) from a hold rating to a sell rating in a report released on Tuesday.

According to Zacks, “Shares of Berkshire Hathaway have underperformed the Zacks categorized Property and Casualty industry quarter to date. The company witnessed estimates moving south over the last 60 days. Berkshire Hathaway’s exposure to catastrophe losses, Buffett’s succession and huge capital expenses on account of its railroad operations remain headwinds. Capital expenditure for 2017 is estimated to be $6.5 billion in 2017. Nonetheless, 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.”

Separately, Vetr upgraded shares of Berkshire Hathaway from a hold rating to a buy rating and set a $177.41 target price on the stock in a report on Monday, July 10th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $168.71.

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