Warren Buffett 's Berkshire Hathaway has been on fire this year with shares roaring back to a record on strong earnings, and this outperformance caused one analyst to urge caution about a slowdown in the stock.
James Shanahan at Edward Jones downgraded Berkshire shares to a hold rating from buy Thursday evening and removed B shares from the firm's U.S. stock focus list.
"BRK shares have significantly outperformed financial services peers over the past six months, supported by a relatively strong earnings outlook," Shanahan said in a note.
BRK.A YTD mountain Berkshire Hathaway Berkshire's operating earnings jumped 6.6% year over year in the second quarter, while it also posted big gains from its stock portfolio and Treasury holdings.
Meanwhile, trading activity in Class A shares is relatively muted given its high price tag.
Persons:
Warren Buffett, Berkshire Hathaway, James Shanahan, Edward Jones, Shanahan, —, Berkshire doesn't
Organizations:
Berkshire, Berkshire Hathaway
Locations:
U.S, Omaha, Berkshire