Berkshire price target lowered to $480,000 from $500,000 at Keefe Bruyette

Keefe Bruyette analyst Meyer Shields lowered the firm’s price target on Berkshire Hathaway to $480,000 from $500,000 and keeps a Market Perform rating on the shares. The company’s Q4 results missed in most segments, reflecting lower than expected underwriting income non-insurance segment earnings, the analyst tells investors in a research note. The firm expects the headline miss along with "sustained economic and margin pressures" in several businesses to pressure Berkshire’s shares Monday, despite its sequentially accelerating share repurchases in Q4.