Berkshire Hathaway's Class B shares closed at $511.54 on Friday, down 5.2% from their all-time high, while Class A shares ended at $766,600, 5.3% below their peak. The stock's recent rally is noteworthy as it has narrowed its deficit to the S&P 500, which is currently 7.6 percentage points ahead.
Analysts, including UBS's Brian Meredith, have raised price targets for Berkshire's shares, reflecting optimism about the company's performance. Significant gains in Berkshire's major equity holdings, particularly Apple, Coca-Cola, and Bank of America, have contributed to this positive sentiment.
Apple is valued at over $70 billion and has risen 13.6% this year, while Coca-Cola has surged 25% and Bank of America is up 12.6%. Additionally, Berkshire's stock buybacks, estimated at $11 billion in the second quarter, further bolster investor confidence. The upcoming release of second-quarter results on August 8 is anticipated to provide more insights into Berkshire's financial health