Zacks Reiterates Outperform Rating for Berkshire Hathaway (BRK)
Berkshire Hathaway (NYSE:BRK)‘s stock had its “outperform” rating restated by Zacks in a report released on Friday. They currently have a $163.00 price objective on the stock.
Zacks’ analyst wrote, “Berkshire Hathaway’s second-quarter earnings came in line with the Zacks Consensus Estimate. Earnings also improved year over year. The earnings growth came from an increase in revenue across all segments. The company’s energy, insurance manufacturing and service, and finance and financial products segments are all performing well. A huge cash hoard along with the investment acumen of Warren Buffett also makes strategic acquisitions easy. However, the company has witnessed fluctuating earnings between the quarters due to heavy exposure to stock option derivatives. Also, lack of clarity on chairman Buffett’s succession prevails. Nevertheless, a solid balance sheet, adequate liquidity and a consistent trend of growing book value are some of the other positives of the company. We thus maintain our Outperform recommendation on the stock.”
Berkshire Hathaway Inc (NYSE:BRK) is a holding company owning subsidiaries engaged in a number of diverse business activities.
To view Zacks’ full report, visit Zacks’ official website.
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