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American Real Estate shares overvalued -Barron's

Sun Apr 29, 2007 3:52pm EDT

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NEW YORK, April 29 (Reuters) - Investor Carl Icahn's American Real Estate Partners LP ACP.N is overvalued, according to an article in the April 30 edition of Barron's.

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Barron's said Warren Buffet's company Berkshire Hathaway Inc. (BRKa.N) currently fetches a lower premium to its book value than American Real Estate, plus Berkshire generates much higher operating profits than Icahn's vehicle.

According to the article, American Real Estate's shares are worth only $65, significantly below their current value of $108.51.

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