Jones Trading Starts Pershing Square Inc (PS) at Buy

Jones Trading analyst Jason Weaver initiates coverage on Pershing Square Inc (NYSE: PS) with a Buy rating and a price target of $39.00.

The analyst comments "We are initiating coverage on Pershing Square Inc. (NYSE: PS) with a BUY Rating and $39.00 PT. PS is the cleanest fee-related earnings story in the listed alt-manager universe: 96% permanent capital, an 87% FRE margin, no private credit book, no realized carry, and a 22.6% net annualized PSH return from YE17 through YE25 versus 14.3% for the S&P 500 (+830bps). The PSUS IPO converts $5B of incremental fee-paying AUM into pure recurring management fee revenue on a near-fixed cost base, but a Q1 2026 NAV drawdown of approximately -15.9% defers the bulk of the FY26 Preferred Performance Fee. Entry-point discipline will be key; the franchise is differentiated, but market performance should be considered heavily as a driving factor for valuation upside."

For an analyst ratings summary and ratings history on Pershing Square Inc click here. For more ratings news on Pershing Square Inc click here.

Shares of Pershing Square Inc closed at $32.97 yesterday.

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