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Berkshire Hathaway shares hit eight-month high
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Berkshire Hathaway shares rallied to an eight-month high this week and there could be more gains ahead if they continue to catch up to the S&P 500.
The B shares closed Tuesday at $512.37, their highest level since November 28, when they finished at $513.81.
They closed Friday at $511.54, down 5.2% from the all-time closing high of $539.80 on May 2 of last year, the day before Warren Buffett revealed he would step down as CEO at the end 2025.
Berkshire Hathaway buyback binge fuels UBS price target hike ahead of earnings
Berkshire Hathaway Inc (NYSE:BRK.A) shares are trading at an 8% discount to intrinsic value, UBS said, raising its price target on the conglomerate ahead of its second-quarter earnings release.
UBS lifted its target to $877,848 for Class A shares from $854,596, and to $585 for Class B shares. The bank also raised its 2Q26 earnings estimates to $7,973 per A-share and $5.32 per B-share, both up 3%, citing heavier buybacks, stronger results at BNSF railroad and lower catastrophe losses in insurance.
UBS estimates Berkshire repurchased about $8.5 billion of stock between April 15 and July 14, based on a 13D/A filing tied to Warren Buffett's charitable stock donation. The bank called the buyback pace bullish, noting shares traded at 1.45 times book value over the period.
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