-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:
We maintain our 12-month target price of $520, valuing Berkshire shares at 22.3x our 2027 operating EPS estimate of $23.36 (lowered today by $0.59) and at 24x our 2026 EPS estimate of $21.76 (lowered by $0.49), versus the shares' three-year average forward multiple of 23x. Berkshire's Q1 2026 operating EPS of $5.26 versus $4.47 topped our $5.10 estimate and the $5.05 consensus view, with operating revenues rising 4.4%. We maintain our 3% to 7% operating revenue growth forecast for 2026. Pretax operating profits more than doubled as margins widened to 13% from 5.6%, though GEICO's underwriting results deteriorated, with its combined ratio rising to 87.3% from 79.8%. CEO Greg Abel reiterated Berkshire's acquisition strategy and share buyback policy at his debut annual meeting but provided no commitment to predetermined capital allocation. At current levels, we view the dividend-less shares as fairly valued.