Warren Buffett’s Berkshire Hathaway Inc.can’t get a buy recommendation from equity analysts, even as it trades in New York at the cheapest price relative to book value since March 2009.
Berkshire fell this week to its lowest since June 2010 and has underperformed the Standard & Poor’s 500 Index over the last 12 months. The company faces a sluggish U.S. economy, declining world equity markets and reinsurance claims tied to Japan’s biggest earthquake. In March, the resignation of David Sokol raised questions about succession for Buffett, the 80-year-old chief executive officer, and Vice Chairman Charles Munger, 87.
“Hopefully we’ll pull out of this, but it looks like it’ll be slow,” said Meyer Shields of Stifel Nicolaus & Co., one of four equity analysts who rates Omaha, Nebraska-based Berkshire at “hold” or an equivalent level. “And every day of slowness, Warren Buffett and Charlie Munger get another day older.” Shields raised his rating to “hold” from “sell” in February....
http://www.bloomberg.com/news/2011-08-04/buffett-can-t-get-analysts-to-give-buy-rating-after-berkshire-s-decline.html
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