BofA analyst Craig Siegenthaler initiated coverage of Pershing Square Inc. (PS) with a Neutral rating and $42 price target Pershing is an asset manager with concentrated portfolios of public large-cap equities and can apply asymmetric hedges, the analyst tells investors in a research note. The firm believes Pershing has an attractive business model but sees “key man” risk with with the fund dependent on Bill Ackman for strategy, investing, and fundraising. Any reduction in his involvement could impact Pershing’s investment performance and fundraising, says BofA. Meet Samuel – Your Personal Investing ProphetStart a conversation with TipRanks’ trusted, data-backed investment intelligence
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