On July 16, Union Pacific rose 3.56% in regular trading, trading at $298.22/share, with turnover of $3.56 billion. The stock was driven higher by a wave of Wall Street target price upgrades ahead of its July 23 earnings release.
Over the past week, multiple institutions raised their price targets on Union Pacific: Raymond James raised to $363 maintaining Strong Buy; Bernstein raised to $346 maintaining Outperform; Susquehanna raised to $333; Citigroup raised to $326; Benchmark raised to $325; and Wells Fargo raised to $315. Consensus estimates for the upcoming quarter project revenue of $6.682 billion, up 8.39% year-over-year, with adjusted EPS of $3.22, representing 10.63% growth. Analysts cite pricing discipline and operational efficiency improvements as potential catalysts for upside.
The broader railroad sector rallied in tandem, with Canadian National Railway up 2.96%, Canadian Pacific Kansas City up 2.97%, CSX Corp up 2.79%, and Norfolk Southern up 2.71%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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