Pershing Square (NYSE:PS) Given New $54.00 Price Target at Tigress Financial

Key Points

• Tigress Financial raised its price target on Pershing Square from $41 to $54, while maintaining a “neutral” rating. The new target implies 7.4% upside from the prior close.
• Analyst sentiment is broadly cautious: MarketBeat reports a consensus “Reduce” rating and a $44.11 average price target, with one Buy, seven Hold, and four Sell ratings.
• Pershing Square reported quarterly EPS of $0.12, missing the $0.13 consensus estimate; revenue was $56.6 million.

Pershing Square (NYSE:PS - Get Free Report) had its price target raised by equities research analysts at Tigress Financial from $41.00 to $54.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Tigress Financial's price objective would suggest a potential upside of 7.40% from the company's previous close.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings upgraded shares of Pershing Square from a "sell (d)" rating to a "sell (d+)" rating in a report on Tuesday, August 11th. JonesTrading downgraded shares of Pershing Square from a "buy" rating to a "hold" rating in a research note on Tuesday, September 29th. Bank of America downgraded shares of Pershing Square from a "neutral" rating to an "underperform" rating and dropped their target price for the stock from $54.00 to $38.00 in a research note on Tuesday, October 13th. Wells Fargo & Company reduced their target price on shares of Pershing Square from $41.00 to $40.00 and set an "underweight" rating on the stock in a research report on Thursday, October 15th. Finally, Royal Bank Of Canada lifted their price target on shares of Pershing Square from $44.00 to $45.00 and gave the company a "sector perform" rating in a research note on Wednesday. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of $44.11.

Pershing Square Stock Performance

PS stock opened at $50.28 on Thursday. Pershing Square has a twelve month low of $22.01 and a twelve month high of $60.40. The stock has a fifty day simple moving average of $47.01.

Pershing Square (NYSE:PS - Get Free Report) last issued its earnings results on Monday, November 2nd. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.01). The firm had revenue of $56.60 million for the quarter. Sell-side analysts predict that Pershing Square will post 0.50 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PS. Rivernorth Capital Management LLC purchased a new stake in shares of Pershing Square in the 2nd quarter worth approximately $14,787,000. Clal Insurance Enterprises Holdings Ltd purchased a new position in Pershing Square during the second quarter valued at approximately $9,858,000. Equitec Proprietary Markets LLC purchased a new position in Pershing Square during the second quarter valued at approximately $3,828,000. NewEdge Advisors LLC bought a new position in Pershing Square in the second quarter worth approximately $1,702,000. Finally, Proficio Capital Partners LLC bought a new position in Pershing Square in the second quarter worth approximately $1,459,000.

About Pershing Square

Pershing Square Holdings, Ltd. is an investment holding company that seeks long-term capital appreciation through a concentrated portfolio of investments in publicly traded companies. The company is managed by Pershing Square Capital Management, L.P., an investment management firm that typically takes significant positions in a limited number of businesses and engages with their management teams and boards.

Pershing Square's investment approach emphasizes fundamental research, long-term ownership and active involvement with portfolio companies.

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