
Berkshire Hathaway Faces Downgrade Amid Buffett Succession Concerns
KBW has downgraded Berkshire Hathaway to a sell rating, citing concerns over Warren Buffett's succession and several other issues affecting the company's outlook.
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KBW has downgraded Berkshire Hathaway to a sell rating, citing concerns over Warren Buffett's succession and several other issues affecting the company's outlook.

Keefe, Bruyette & Woods (KBW) analyst Mike Perito downgraded SoFi Technologies stock from "Market Perform" to "Underperform" and reduced the price target from $7.50 to $6.50, citing a potential 15-20% downside to consensus EBITDA and stagnant technology development. The downgrade reflects concerns over slowing origination growth, capital expenditure constraints, and limited profitability, which may impact SoFi's performance into the first half of 2024.

KBW advises investors to take profits on SoFi after its recent rally in the stock market.

Investment firm KBW predicts a "new world order" for the banking industry following the recent collapses of First Republic Bank, Silicon Valley Bank, and Signature Bank. While individually they were not significant enough to cause major disruption, their collective failure is helping to reshape the industry.