{"id":23292,"date":"2023-09-29T20:18:27","date_gmt":"2023-09-29T20:18:27","guid":{"rendered":"https:\/\/microloannexus.com\/investing\/berkshire-stock-gets-downgraded-to-hold-from-buy-by-edward-jones\/"},"modified":"2023-09-29T20:18:28","modified_gmt":"2023-09-29T20:18:28","slug":"berkshire-stock-gets-downgraded-to-hold-from-buy-by-edward-jones","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=23292","title":{"rendered":"Berkshire Stock Gets Downgraded to Hold from Buy by Edward Jones"},"content":{"rendered":"
\n
\n

<\/p>\n

\n
<\/div>
\n

Warren Buffett, shown in 2019.<\/h4>\n


\n Houston Cofield\/Bloomberg
\n <\/span>
\n <\/figcaption><\/figure>\n<\/p><\/div>\n

Edward Jones analyst James Shanahan lowered his call on
\n Berkshire Hathaway
\n to a Hold from a Buy, citing the fact that the company has been beating its peers in the financial sector.<\/p>\n

Berkshire Hathaway (tickers: BRK.A, BRK.B) shares are up 15.5% so far this year to $541,105, topping both the
\n S&P 500
\n index, which has returned about 13% and
\n Financial Select Sector SPDR
\n exchange-traded fund (XLF) which is about flat. Bank stocks are in the red; the
\n SPDR S&P Bank ETF
\n (KBE) is down 17%.<\/p>\n

\n

The implication is that Berkshire\u2019s strong gains make further outperformance less likely.<\/p>\n

\u201cBerkshire shares have appreciated considerably over the past six months, significantly outperforming financial services peers. We attribute the appreciation to an improved earnings outlook, which has been strengthened by an acceleration in investment activity and an interest-rate-driven increase in income from BRK\u2019s large cash holding,\u201d Shanahan wrote in a client note Thursday.\u00a0<\/p>\n

Berkshire is sitting on almost $150 billion in cash, one of the largest cash positions of any U.S. company. The figure is equal to almost 20% of the company\u2019s market value of around $780 billion.<\/p>\n

Berkshire shares have also benefited from their haven status and investors\u2019 comfort with the company\u2019s leadership team, which is headed by CEO Warren Buffett, 93.<\/p>\n

Shanahan had been one of only two bulls on Berkshire among the roughly half dozen analysts that cover it.
\n UBS\u2019s<\/span>
\n Brian Meredith also has a Buy on the stock, which now trades for around 1.5 times book value and for about 22 times projected 2023 earnings.<\/p>\n

Shanahan had upgraded Berkshire to a Buy from Hold a year ago. Since then, the stock is up about 30%, double the gain in the S&P 500.<\/p>\n

Write to Andrew Bary at andrew.bary@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Warren Buffett, shown in 2019. Houston Cofield\/Bloomberg Edward Jones analyst James Shanahan lowered his call on Berkshire Hathaway to a Hold from a Buy, citing the fact that the company has been beating its peers in the financial sector. Berkshire Hathaway (tickers: BRK.A, BRK.B) shares are up 15.5% so far this year to $541,105, topping<\/p>\n","protected":false},"author":1,"featured_media":23293,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"class_list":{"0":"post-23292","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"yoast_head":"\nBerkshire Stock Gets Downgraded to Hold from Buy by Edward Jones | Micro Loan Nexus<\/title>\n<meta name=\"description\" content=\"Warren Buffett, shown in 2019. 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