Zacks Gives Berkshire Hathaway Outperform Rating

In a report released on Wednesday, Zacks recently restated their outperform rating on Berkshire Hathaway shares. The current price objective on the stock according to Zacks is $153 for Class B shares.

An analyst at Zacks wrote, “Berkshire Hathaway’s first-quarter earnings missed the estimates by a couple of pennies. Despite the earnings miss, we retain our Outperform recommendation on the company owing to its historically superior operating performance. Numerous businesses of the conglomerate 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 other notable positives.“

Zacks has recently taken action against a number of other stocks. They decided to upgrade shares to an outperform rating from a neutral rating for Icon PLC. The current stock price target comes in at $43 per share. The company also reiterated its rating of neutral on Fujifilm Holdings shares. The current price target on that stock is $27. As far as Farmers Capital Bank Corp. goes, Zacks has dropped the rating from outperform to neutral. The price target for that stock is $22.40 per share.

Berkshire Hathaway is a holding company. It owns subsidiaries that participate in a number of different diverse businesses.

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