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Top Wall Street analysts changed outlook on several top stocks. See all changes on analyst ratings page.
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Despite warning in May that stock valuations were too high, Warren Buffett's Berkshire Hathaway has reversed course and become more aggressive in buying stocks and repurchasing its own shares since Q2. The company has invested in Alphabet and Bending Spoons while the S&P 500 has risen 7% since Buffett's warning, suggesting that actions speak louder than words when it comes to investment strategy.
Bending Spoons stock surged 27% this week following a $330 million private placement investment from Berkshire Hathaway, expanding the investor's stake to roughly 4%. The capital injection supports the company's software roll-up strategy of acquiring and restructuring digital applications. However, the stock trades at elevated valuations (34x forward P/E) with significant debt of $5 billion, leaving little room for operational missteps.
Major U.S. indices ended lower on Wednesday, with the Dow Jones Industrial Average slipping 0.09% to 51,621.48.
TD Cowen analyst Robert Moskow maintains Anheuser-Busch InBev (NYSE:BUD) with a Hold and lowers the price target from $89 to $85.