Tigress Financial Raises Pershing Square (NYSE:PS) Price Target to $41.00

Key Points

• Tigress Financial raised Pershing Square’s price target from $39 to $41 while maintaining a “neutral” rating, implying 12.61% upside from the previous close.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $41.33; ratings include two Buys, nine Holds, and one Sell.
• Pershing Square shares recently traded at $36.41, while the company’s latest quarterly earnings of $0.14 per share exceeded estimates of $0.12.

Pershing Square (NYSE:PS - Get Free Report) had its price target raised by equities research analysts at Tigress Financial from $39.00 to $41.00 in a report issued on Thursday, Benzinga reports. The firm currently has a "neutral" rating on the stock. Tigress Financial's target price would suggest a potential upside of 12.61% from the stock's previous close.

A number of other research analysts have also recently commented on the company. Oppenheimer initiated coverage on Pershing Square in a research note on Tuesday, May 26th. They set a "market perform" rating on the stock. Wells Fargo & Company boosted their price objective on Pershing Square from $34.00 to $36.00 and gave the company an "equal weight" rating in a report on Thursday. JonesTrading increased their target price on Pershing Square from $39.00 to $42.00 and gave the stock a "buy" rating in a research note on Monday, August 24th. Weiss Ratings raised Pershing Square from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, August 11th. Finally, Citigroup lowered shares of Pershing Square from a "buy" rating to a "neutral" rating and set a $45.00 price target on the stock. in a research note on Wednesday, August 19th. Two 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. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $41.33.

Pershing Square Stock Performance

Shares of PS traded down $0.09 during trading on Thursday, reaching $36.41. 103,236 shares of the company traded hands, compared to its average volume of 348,314. The business's 50-day moving average is $36.53. The firm has a market cap of $14.56 billion and a PE ratio of 260.07. Pershing Square has a twelve month low of $22.01 and a twelve month high of $54.94.

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

Hedge Funds Weigh In On Pershing Square

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Ancora Advisors LLC purchased a new stake in shares of Pershing Square during the second quarter worth approximately $302,000. Wedbush Securities Inc. acquired a new position in Pershing Square during the 2nd quarter worth approximately $529,000. Hsbc Holdings PLC purchased a new stake in shares of Pershing Square in the 2nd quarter valued at approximately $775,000. Readystate Asset Management LP acquired a new stake in shares of Pershing Square in the 2nd quarter valued at $822,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Pershing Square in the 2nd quarter valued at $1,459,000.

Pershing Square Company Profile

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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