Pershing Square (NYSE:PS – Get Free Report) had its target price increased by stock analysts at Wells Fargo & Company from $34.00 to $36.00 in a report released on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential downside of 3.77% from the stock’s previous close.
Several other brokerages also recently commented on PS. JonesTrading upped their price target on shares of Pershing Square from $39.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, August 24th. Weiss Ratings upgraded shares of Pershing Square from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Wall Street Zen lowered Pershing Square from a “hold” rating to a “sell” rating in a report on Sunday, June 7th. Royal Bank Of Canada decreased their target price on Pershing Square from $40.00 to $38.00 and set a “sector perform” rating for the company in a research report on Monday, July 13th. Finally, UBS Group began coverage on Pershing Square in a report on Tuesday, May 26th. They set a “neutral” rating and a $39.00 price target on the stock. Two investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $41.11.
Read Our Latest Stock Report on PS
Pershing Square Stock Up 2.5%
Pershing Square (NYSE:PS – Get Free Report) last announced its earnings results on Wednesday, August 12th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. The firm had revenue of $68.03 million during the quarter. Equities research analysts expect that Pershing Square will post 0.56 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Pershing Square
A number of institutional investors have recently modified their holdings of PS. Equitec Proprietary Markets LLC acquired a new position in shares of Pershing Square in the second quarter worth $3,828,000. Clal Insurance Enterprises Holdings Ltd purchased a new position in Pershing Square in the second quarter valued at about $9,858,000. Rivernorth Capital Management LLC purchased a new position in Pershing Square in the second quarter valued at about $14,787,000. Proficio Capital Partners LLC acquired a new position in Pershing Square in the 2nd quarter worth about $1,459,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Pershing Square during the 2nd quarter worth about $775,000.
About Pershing Square
Pershing Square (NYSE: PS) is a publicly traded investment holding company managed by Pershing Square Capital Management, L.P., the investment firm founded and led by William “Bill” Ackman. The vehicle provides outside investors with exposure to the firm’s concentrated, actively managed investment program and is designed to deliver long‑term capital appreciation through a portfolio of equity and related positions.
The company’s principal activities center on investing in publicly traded companies, typically through concentrated long equity positions and selectively using derivatives or other instruments for hedging or to implement investment views.
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