SAN FRANCISCO (MarketWatch) -- A rally of more than 20% in Berkshire Hathaway shares this year already prices in benefits from any economic recovery, so investors should wait for a more attractive entry point, Barclays Capital analyst Jay Gelb said Monday.

Gelb became one of the few sell-side analysts to cover Berkshire /quotes/comstock/13*!brk.a/quotes/nls/brk.a (BRK.A 121,100, +245.00, +0.20%) /quotes/comstock/13*!brk.b/quotes/nls/brk.b (BRK.B 80.89, +0.44, +0.55%) after initiating coverage of the insurance-focused conglomerate on Monday.

Few sell-side analysts cover Berkshire because shares of the company haven't traded much in the past. Chairman Warren Buffett also doesn't hire investment banks much for acquisitions -- another reason the sell side has shunned the stock.

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