Pershing Square Slumps 12% After Second Downgrade in Two Days
Yahoo Finance ·
Pershing Square shares plunged 12 percent following a downgrade from BofA to Underperform, with the price target slashed to $38 from $54. The adjustment reflects lowered earnings estimates for 2026 through 2028, driven by delays in the PSV launch and a reduction in valuation multiples to match industry peers. This follows a similar downgrade to Sell by Citi on Friday. Weak performance was a key factor, as the flagship Pershing Square Holdings saw its net asset value drop 12.6 percent in the first half of 2026, contrasting with a 10.2 percent gain for the S&P 500. Analysts emphasize that Wall Street now requires concrete execution on upcoming fund launches before pricing in future growth.
AI 시장 분석
Pershing Square shares plummeted 12% following consecutive rating downgrades and price target cuts by BofA and Citi. The decline was mainly driven by the delayed launch of PSV and weak performance, with Net Asset Value (NAV) dropping 12.6% in the first half of 2026. Wall Street recommends a conservative approach until a new fund is launched.
하락 영향
- Financials — Pershing Square's 12% plunge and significant price target cuts by BofA and Citi reflect poor earnings and weakened growth expectations for asset managers.
DYAX 전담 분석
Pershing Square's stock plunged 12% as BofA slashed its price target from $54 to $38, weighed down by the delayed PSV launch and weak results showing a 12.6% decrease in the flagship fund's NAV in the first half of 2026. This reflects a downward adjustment of the premium multiple—previously granted on high-growth expectations—down to the level of general asset managers.
Future stock direction will be determined by the specific launch schedule of new funds and whether the flagship fund can outperform the market. Investors should closely monitor assets under management (AUM) and the timing of performance fee recovery as key indicators.
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