Tigress Financial Forecasts Strong Price Appreciation for Pershing Square (NYSE:PS) Stock

Pershing Square (NYSE:PS) had its price target lifted by research analysts at Tigress Financial from $39.00 to $41.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Tigress Financial’s price target would suggest a potential upside of 12.61% from the company’s current price.

A number of other research firms have also recently weighed in on PS. UBS Group initiated coverage on shares of Pershing Square in a report on Tuesday, May 26th. They set a “neutral” rating and a $39.00 price objective on the stock. JonesTrading upped their target price on shares of Pershing Square from $39.00 to $42.00 and gave the company a “buy” rating in a report on Monday, August 24th. Wells Fargo & Company increased their target price on shares of Pershing Square from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Thursday. 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. Finally, Royal Bank Of Canada reduced 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. Two investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $41.33.

Pershing Square Trading Down 0.2%

Shares of PS traded down $0.09 during mid-day trading on Thursday, reaching $36.41. The company’s stock had a trading volume of 103,236 shares, compared to its average volume of 348,314. Pershing Square has a 12-month low of $22.01 and a 12-month high of $54.94. The firm has a market capitalization of $14.56 billion and a PE ratio of 260.07. The firm’s 50 day moving average price is $36.53.

Pershing Square (NYSE:PS) last posted its earnings results 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 business had revenue of $68.03 million for the quarter. Sell-side analysts forecast that Pershing Square will post 0.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of Pershing Square in the second quarter valued at about $9,858,000. Ancora Advisors LLC purchased a new position in shares of Pershing Square during the second quarter worth about $302,000. Hsbc Holdings PLC acquired a new position in Pershing Square in the 2nd quarter valued at about $775,000. Equitec Proprietary Markets LLC acquired a new position in Pershing Square in the 2nd quarter valued at about $3,828,000. Finally, Wedbush Securities Inc. purchased a new stake in Pershing Square during the 2nd quarter valued at approximately $529,000.

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.