Analysts say Berkshire shares are still a good value despite reaching record levels

Investors and analysts are abuzz as Berkshire Hathaway shares reached a record high following a strong second-quarter performance. Warren Buffett’s conglomerate reported robust results, including a rebound in insurance operations and a substantial cash reserve nearing $150 billion.

UBS analyst Brian Meredith expressed confidence in Berkshire’s future potential, noting that the stock still trades at an 11% discount to its intrinsic value. He raised his price target to $621,591, anticipating a 16% gain.

Similarly, Edward Jones analyst James Shanahan sees promising opportunities for earnings growth driven by higher interest rates and increased investment activity. With Berkshire’s diverse portfolio of businesses generating $10.04 billion in operating earnings last quarter, Shanahan believes the current share price presents a compelling entry point for long-term investors.

Related:  Berkshire Hathaway Reports Q2 2023 Earnings

KBW’s Meyer Shields also raised his target price for Berkshire, citing the company’s strong performance and diverse revenue streams. Overall, Wall Street analysts remain bullish on Warren Buffett’s conglomerate, viewing it as an attractive investment in today’s uncertain economic climate.

As Berkshire Hathaway continues to thrive, it’s clear that investors still have ample opportunity to benefit from Warren Buffett’s savvy leadership and the company’s solid financial performance.

Source link

Leave a Comment