Berkshire price target raised to $735,000 from $730,000 at Keefe Bruyette

Keefe Bruyette raised the firm’s price target on Berkshire Hathaway (BRK.B) (BRK.A) to $735,000 from $730,000 and keeps a Market Perform rating on the shares. The firm views Warren Buffett’s announced plan to step aside as CEO as the most important takeaway of Berkshire’s annual meeting. While likely successor Greg Abel has “increasingly demonstrated competence,” the news should pressure the shares on Monday, the analyst tells investors in a research note. Keefe increased the price target to to reflect its updated earnings estimates and peer valuations.