cnbc_topnews

Berkshire Hathaway shares hit eight-month high

📰 source: cnbc_topnews · 💼 business

berkshire hathaway shares hit an eight-month high this week. b shares closed tuesday at $512.37, the highest since november 28. class a shares ended at $768,010. they've since pulled back a bit, closing friday at $511.54 and $766,600.

the stock still lags the s&p 500 by 7.6 percentage points, but it's erased more than half of a 17.5-point deficit from two months ago. barron's says the rally has room to run. ubs analyst brian meredith raised his price target on the b shares to $585 from $570 and on a shares to $877,848 from $854,596, keeping a buy rating. he also welcomed reports that berkshire may have bought back up to $11 billion in q2. actual numbers come with second-quarter results on august 8.

three big holdings are helping: apple, now worth over $70 billion, is up 13.6% this year; coca-cola is up 25%; bank of america is up 12.6%. coke also raised its full-year outlook after strong earnings.

why it matters: berkshire shares near record as analyst boosts target and key holdings rally, though stock still trails sp500.

source: cnbc_topnews
sentiment: +0.60 · impact: 0.60

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Surprise fall in US jobs last month as slow summer continues

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

China is gaining ground in AI. But the U.S. still has a major advantage

US strikes $1.2bn deal to pay German firm to halt offshore wind projects