Jefferies Initiates Buy Rating on Pershing Square USA Amid Market Weakness
Jefferies has launched coverage of Pershing Square USA (PSUS) with a Buy recommendation, highlighting the fund's discounted valuation and structural advantages. Trading near its 52-week low at $41.30—17% below its IPO price—the $4.13 billion closed-end fund presents what analysts call a compelling entry point.
The absence of performance fees and a focus on cash-generative businesses position PSUS for long-term outperformance, according to Jefferies. Meanwhile, Pershing Square Inc. (PS) received a more cautious Hold rating despite its 47% post-IPO gain, underscoring the divergent trajectories within Bill Ackman's investment ecosystem.
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