Keefe, Bruyette & Woods Raises Price Target On Berkshire Hathaway

Keefe, Bruyette & Woods reiterated its Market Perform rating on Berkshire Hathaway Inc. BRK and raised its price target from $210,000 to $220,445.

According to analysts led by Meyer Shields, the company’s 3Q 2014 “operating EPS of $2,876 beat the Street’s $2,560 estimate and our $2,654 estimate.

“Insurance profits (including a $301 million F/X benefit on loss reserves) and premium volumes, Finance and Financial Products, Railroad, Energy, and Utilities and the tax rate were better than expected, partly offset by weakness in Manufacturing, Service and Retailing and lower-than-expected net investment income.”

The report concluded by “raising our 2014E EPS to $10,145 from $9,920 and our 2015E and 2016E EPS to $10,680 and $11,465 from $10,650 and $11,395, respectively, to reflect the 3Q14 beat, and higher projected Finance and Financial Products earnings, offset by lower assumed Berkshire Hathaway Energy earnings.”

Berkshire Hathaway Inc. recently traded at $216,820, up 0.86 percent.