Ackman's Pershing Square slides after BofA downgrades stock

Pershing Square Holdings

13/10/2026 16:56

** Shares of Bill Ackman's Pershing Square PS.N slide 12% to $47.78
** BofA Global Research downgrades PS to "underperform" from "neutral"; slashes PT to $38 from $54, a 30% downside to last close
** Brokerage says the underperformance of PS flagship funds delays further fundraises; expects asset manager to push back its venture capital-focused investment vehicle given tougher market conditions
** "We think PS may also delay the timeline for its four other initiatives (Asymmetric, Opportunistic, Crossover, Absolute Return) which it plans to launch over the next five years" - BofA Global Research
** One of 10 brokerages rates the stock "buy", 6 "hold" and three "sell" or lower; median PT $41 - data compiled by LSEG
** PS stock has gained 33.5% in last 3 months

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))