Keefe Bruyette raised the firm’s price target on Berkshire Hathaway to $565,000 from $545,000 and keeps a Market Perform rating on the shares. The firm notes Berkshire’s Q2 operating EPS of $6,928 beat the Street’s $5,576 estimate and its $5,124 forecast, reflecting better-than-expected Insurance Underwriting and Investment income and MS&R outperformance, partly offset by lower-than-expected Railroads, Utilities, and Energy earnings and smaller-than-expected share repurchases. Keefe expects the EPS beat to boost Berkshire’s shares on Monday despite slower-than-expected share repurchases.
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