Monday, August 10, 2009

Berkshire shares drop on Fox-Pitt Kelton downgrade (BRK.A)

From MarketWatch:
Berkshire Hathaway fell more than 5% Monday after analysts at Fox-Pitt Kelton Cochran Caronia downgraded shares of the insurance-focused conglomerate.

A recent rally left the stock trading at 1.5 times book value, in line with the stock's five-year average, analysts Matthew Carletti and Lee Feingold said in a note to investors....MORE