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Investing.com - UBS raised its price target on Berkshire Hathaway Inc . (NYSE:BRKa) (NYSE:BRK-B) to $597.00 from $595.00 while maintaining a Buy rating following the company’s earnings report.
Berkshire Hathaway (NYSE:BRKb) reported adjusted operating earnings of $7,760 for "A" shares and $5.17 for "B" shares, exceeding UBS estimates of $7,595 for "A" shares and $5.06 for "B" shares by approximately 2%.
The company’s adjusted operating income, while higher than consensus expectations, still fell 4% year-over-year due to lower underwriting results from its Insurance segment.
UBS noted that Berkshire’s reported figures exclude a $3.8 billion write-down on its stake in Kraft Heinz (NASDAQ:KHC), or $5 billion pre-tax, which reduced the carrying value of the investments to fair value.
Berkshire Hathaway highlighted uncertainty around tariffs and the "Big Beautiful Bill" that could impact federal energy-related tax policies and Berkshire Hathaway Energy’s tax rate, while GEICO continues to grow and maintain strong profitability.
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