UBS raises stock price target for Warren Buffett's Berkshire Hathaway
In a note to clients on Sunday raising their stock price target for Berkshire to $538 from $506, the analysts also lifted their forecast for the company's third-quarter earnings per share, citing"a modestly lower catastrophe loss estimate" and an improvement in underwriting results for reinsurance.
Insurance is a key portion of the Berkshire's business, with firms like Geico, National Indemnity and General Re all subsidiaries of the company. In May, Berkshire also disclosed a major stake in insurer Chubb (NYSE:However, Berkshire still maintains a wide-range of investments across a broad range of sectors, from railroads and banks to running shoes and ice cream.
The UBS analysts estimated that Berkshire's common equity portfolio grew by 7% in the third quarter, mostly thanks to an uptick in its stake in Apple, credit card firmRisk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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