UBS lowered the firm’s price target on Berkshire Hathaway (BRK.B) Class B to $593 from $597 and keeps a Buy rating on the shares. Third quarter EPS estimates for Berkshire Hathaway were raised, reflecting stronger insurance performance at GEICO and BH Re, partly offset by lower BNSF margins, the analyst tells investors. The updated outlook projects modest EPS and book value growth, with shares trading near intrinsic value, suggesting no buybacks expected this quarter.
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