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Fly News Breaks for July 18, 2018
BRK.B, BRK.A
Jul 18, 2018 | 07:49 EDT
After Berkshire Hathaway's board authorized an amendment to the company's share repurchase program, Morgan Stanley analyst Kai Pan noted that Warren Buffett has indicated that the gap between Berkshire's intrinsic value and book value is widening and Pan thinks the amendment signals the company's interest in buying back its own shares. However, Berkshire will not initiate any buybacks until it releases Q2 earnings after market close on Friday, August 3, the analyst notes. Pan, who thinks "solid" Q2 results and buybacks should be positive catalysts, keeps an Equal Weight rating on Berkshire shares.
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