Bill Ackman's Pershing Square Says Wall Street Is 'Penalizing Hyperscalers' For Build-Out Costs, Ignoring Growth Potential

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  Yahoo Finance·22/10, 21:15▲ METAMETAAI investmentBill Ackman
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  CNBC·22/10, 15:48▲ QQQ▲ SPYBill Ackmaninflationinterest rates
• Citi Just Downgraded Bill Ackman's Pershing Square Stock to Sell, Citing a $45 Price Target Versus Its $60 Peak. Is PS Stock Overvalued After Its April IPO Rally?

  Citi downgraded Pershing Square (PS), the investment firm run by Bill Ackman, to sell from neutral but kept a $45 price target, citing a valuation of 54 times forward earnings and a 2027 EPS estimate cut to $0.89 from $1.01 due to tepid fund performance. BofA also downgraded the stock to underperform and cut its target from $54 to $38, implying a 15% decline over the next 12 months. Shares opened at $24 after the April IPO, peaked at $60 on Oct. 7, and have since fallen about 25% to $45. Revenue from management fees falls when asset levels drop, and the firm plans to launch Pershing Square Ventures by the end of 2026. Citi views its stake in Howard Hughes Holdings, which just acquired Vantage Group Holdings, as a potential upside catalyst.

  Yahoo Finance·17/10, 23:25Bill AckmanIPOvaluation
• Bill Ackman Is Directing Up to $3 Billion Into Howard Hughes' Insurance Arm, Vantage, as Part of His Plan to Build a Modern Berkshire Hathaway. Is HHH Stock the Way to Play His Buffett Ambitions?

  Bill Ackman, through Howard Hughes Holdings (HHH), agreed to acquire insurer Vantage for $2.1 billion, a price largely reflecting its roughly $1.8 billion book value. HHH plans to invest $2.5 billion to $3 billion of excess free cash flow into the insurance unit over five years, mostly in stocks, with Pershing Square managing the portfolio for free. Ackman also wants to charge third-party investors management fees on real estate investments, similar to Brookfield and Blackstone. Pershing Square raised its stake in HHH to 47% after investing another $900 million in 2025. Shares surged on Ackman's remarks before pulling back near the $66.95 book value per share, and the article notes that results will take years to judge, while Greenlight Capital, a similar model, lost money for investors.

  Yahoo Finance·16/10, 06:25Bill AckmaninsuranceBerkshire Hathaway
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  CafeF·03/11, 06:25▼ IMPpharmaceuticalsregulationartificial intelligence
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  Yahoo Finance·03/11, 06:20mergers and acquisitionsKimberly-Clarkconsumer goods
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