Edward Jones downgrades Berkshire with positives priced in

Edward Jones last night downgraded Berkshire Hathaway to Hold from Buy. The analyst says the stock’s valuation now reflects Berkshire’s positives are rallying to all-time highs. Shares of Berkshire have outpaced the financial services sector over the last six months, supported by the company’s “relatively strong earnings outlook,” the analyst tells investors in a research note. The firm continues to expect solid earnings from Berkshire’s “diverse group” of operating companies, but says the current share price “reflects these positives.” Edward Jones removed the class B shares from its U.S. Stock Focus List.