Pershing Square (NYSE:PS) Upgraded to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Pershing Square from “sell” to “hold.” Despite the upgrade, analysts’ consensus remains “Reduce,” with one Buy, nine Hold, and two Sell ratings and an average price target of $41.89.
• Pershing Square shares opened at $52.68, above the consensus target, with a market capitalization of $21.07 billion and a P/E ratio of 376.29.
• The company reported quarterly EPS of $0.14, beating the $0.12 consensus estimate, while several institutional investors—including Rivernorth Capital Management and Clal Insurance—recently established new positions.

Pershing Square (NYSE:PS - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other research firms have also commented on PS. Royal Bank Of Canada lowered their price target on shares of 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. Tigress Financial lifted their price objective on shares of Pershing Square from $39.00 to $41.00 and gave the company a "neutral" rating in a research report on Thursday, September 3rd. Citigroup lowered shares of Pershing Square from a "buy" rating to a "neutral" rating and set a $45.00 target price for the company. in a research note on Wednesday, August 19th. 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. Finally, Wells Fargo & Company started coverage on shares of Pershing Square in a research note on Thursday. They issued an "underweight" rating and a $41.00 price target on the stock. One investment analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Reduce" and a consensus price target of $41.89.

Pershing Square Price Performance

Shares of PS opened at $52.68 on Friday. The stock has a market capitalization of $21.07 billion and a P/E ratio of 376.29. Pershing Square has a one year low of $22.01 and a one year high of $59.94. The company has a 50-day simple moving average of $41.84.

Pershing Square (NYSE:PS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. The company had revenue of $68.03 million for the quarter. Sell-side analysts anticipate that Pershing Square will post 0.56 earnings per share for the current year.

Institutional Investors Weigh In On Pershing Square

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

Pershing Square Company Profile

Pershing Square USA, Ltd. is a closed-end investment company listed on the New York Stock Exchange under the symbol PS. The company is designed to provide investors with long-term capital appreciation through a concentrated portfolio of investments in publicly traded businesses.

The fund is managed by Pershing Square Capital Management, L.P., an investment management firm founded and led by William A. Ackman. Its investment approach generally emphasizes detailed fundamental research, activist engagement when appropriate, and ownership of a limited number of companies that the manager believes have durable business models, strong management teams, and long-term growth potential.

Pershing Square USA primarily focuses on publicly traded companies in the United States and other developed markets, with investment decisions centered on individual business fundamentals rather than broad market exposure.

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