Berkshire Gets Rare Sell Rating on Risks in Earnings, Succession

Berkshire Hathaway Inc. got a rare sell rating, with analysts cautious on its earnings outlook and ongoing concerns over Warren Buffett’s upcoming departure and macro risks.

Keefe, Bruyette & Woods cut the recommendation on the conglomerate’s Class A shares to underperform from market perform, saying “many things moving in the wrong direction.” Among six analysts tracked by Bloomberg that cover the firm it is the only sell rating.