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Investing.com - UBS has lowered its price target on Berkshire Hathaway Inc. (NYSE:BRK-B) to $593.00 from $597.00 while maintaining a Buy rating on the stock.
The firm raised its third-quarter 2025 earnings per share estimate for Berkshire’s B shares to $5.89 from $5.57, primarily due to improvements in the insurance business, including a better accident year loss ratio at GEICO and lower catastrophe losses for Berkshire Hathaway Reinsurance.
These positive factors were partially offset by lower margins at BNSF railroad operations, which UBS attributed to modestly lower than expected volumes and higher fuel costs during the quarter.
For the full year 2025, UBS adjusted its EPS projection upward to $20.78 from $20.67 for B shares, while also projecting sequential growth of 2.1% in third-quarter 2025 book value per share, benefiting from favorable investment marks.
The firm noted that Berkshire Hathaway shares are currently trading roughly in line with their intrinsic value, and since the company historically repurchases shares when trading closer to a 15% discount to intrinsic value, UBS is not forecasting any share buybacks in the third quarter of 2025.
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