09:05 AM EDT, 05/06/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We keep our 12-month target price of $472, valuing BRK class B shares at 20.2x our newly initiated '26 operating EPS estimate of $23.35, and at 22.2x our '25 EPS estimate of $21.25 (upped today by $0.35), versus their 3-year average forward multiple of 23x. We lift our '24 EPS estimate by $0.30, to $19.55, after Q1 EPS of $5.20 versus $3.69 topped our $4.81 EPS estimate and the $4.90 consensus view, on a near tripling of insurance underwriting profits, a 32% rise in investment income, 72% higher earnings at Berkshire Energy, partly offset by 8% lower profits at BNSF and mixed results elsewhere. Operating revenue growth of 5.2% lagged our forecast on 6% lower rail revenues, 19% lower utility revenues, and muted (9%) insurance revenues amid a strategic pullback from GEICO. One point to emerge from the annual meeting was Buffett's comment that heir apparent Greg Abel should be armed with capital allocation responsibility when he succeeds Buffett. This represents a significant consolidation of power around Abel.