RBC Capital analyst Kenneth S. Lee initiates coverage on Pershing Square Inc (NYSE: PS) with a Sector Perform rating and a price target of $40.00.

The analyst comments: “We are initiating coverage of PS with a Sector Perform rating and a $40 price target. Pershing Square, led by Mr. Bill Ackman, is a management company with a long, successful investment track record and many favorable attributes including permanent capital base; predominantly recurring fee-related earnings; high-margin business model with operating leverage. However we see limited upside potential to shares given the current valuation.”

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 $35.67 yesterday.