No noise, no hype — just the numbers that matter and the commentary to make sense of them. Updated June 30, 2026.
Sell-side 12-month targets. These are anchored close to the current price and are deliberately conservative relative to long-horizon intrinsic value work.
| Firm / Analyst | Rating | Target (B) | Target (A) | Note |
|---|---|---|---|---|
| UBSBrian Meredith | Buy | ~$597 | ~$895,500 | Street's most bullish; raised on a stronger operating-earnings outlook. One source flagged a possible trim to ~$570 — confirm directly. |
| Keefe, Bruyette & WoodsKBW | Underperform | ~$463 | $695,000 | Reiterated May 2026; cut from a prior $740k Market Perform. The bear case. |
| S&P Global Poll4 analysts | Buy | $520.33 | ~$780,500 | High $570 / Low $481. |
| Consensusstockanalysis · 10 analysts | Buy | ~$514 | ~$771,000 | Range $481–$570. |
| MarketBeatconsensus | Aggregate | ~$524 | ~$786,000 | Blended sell-side average. |
| TipRanksconsensus | Aggregate | ~$535 | ~$802,500 | Blended sell-side average. |
Bottom-up fair-value work from independent Berkshire analysts, plus model-driven screens. These look through to the assets and earnings power rather than a 12-month price.
| Analyst / Source | IV per A-share | IV per B-share | Method |
|---|---|---|---|
| Chris BloomstranSemper Augustus | $855,396 | ~$570 | 2025 annual letter (Feb 2026). Total IV $1.23T, +9.3% YoY; pegs price ~13% below value. |
| UBSbull case (implied) | ~$866,000 | ~$577 | Implied from the firm's bull-case valuation. |
| Whitney TilsonStansberry Research | ~$801,000 | ~$534 | Cash + investments (~$494k/A) + 11× pretax operating earnings (~$28k/A). |
| valueinvesting.ioDCF model | ~$745,500 | ~$497 | Discounted cash flow, as of Jun 26, 2026 — the most conservative read. |
The analysts who actually do bottom-up Berkshire work — Bloomstran, Tilson, and UBS — converge in a tight band: $534–$577 per B-share ($800k–$866k per A). With BRK.B near $499, that implies the stock trades at roughly a 7–15% discount to intrinsic value.
A pure DCF screen (valueinvesting.io, ~$497) lands lower because it discounts a single cash-flow stream rather than marking Berkshire's vast cash and equity portfolio to value. For a balance-sheet-heavy holding company, a sum-of-the-parts approach (Bloomstran/Tilson) generally captures reality better than a single-stream DCF — which is why the bottom-up band is the one to weight.
Every estimate above, in BRK.B terms, against the current $498.66 quote. The further right the bar, the more upside that view implies.
At today's price, Berkshire sits below the central intrinsic-value estimates from the analysts who study it most closely, while sell-side price targets — being shorter-horizon — sit closer to the quote. The defining tension is KBW's bear case (~$463) against Bloomstran's bull read (~$570). For long-term holders, the weight of independent valuation work points to a stock trading at a reasonable-to-attractive discount, not a stretched one.
Berkyville Commentary
The sell-side clusters tightly around $510–$535 per B-share — roughly 2–7% above the current quote. That's a "fairly valued, modest upside" stance, which is typical for a 12-month window on a $1.1T compounder.
The real story is the spread between the bookends: UBS at ~$597 versus KBW at ~$463 is a ~29% gap. UBS leans on accelerating operating earnings; KBW worries about the cash drag, succession, and a premium-to-book multiple. The consensus is just the midpoint of an active disagreement.