TD Cowen analyst Andrew Kligerman initiated coverage of Berkshire Hathaway class B shares (BRK.B) with a Hold rating and $465 price target. The company’s “old-school conglomerate structure” has faced challenges in a number of key areas of late despite being powered by an insurance business that “continues to shine,” the analyst tells investors in a research note. The firm says Berkshire’s non-insurance businesses have weighed on the conglomerate’s results, including the railroads and utilities businesses.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BRK.B:
- Berkshire Hathaway: Buffett to convert 8,674 A shares into 13,011,000 B shares
- Interactive Brokers considers options related to $48M loss on Berkshire anomaly
- NetJets sues pilots’ union to silence safety conerns
- Occidental, BHE Renewables form joint venture
- NYSE evaluating which LULD halts were erroneous for potential busts