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RBC Capital analyst Walter Spracklin raised the price target to $252 (an upside of 6%) from $227 and maintained an Outperform rating on the shares.
Spracklin mentions that the company's earnings came in better in Q3 thanks to higher-than-expected revenue driven by strong pricing.
Spracklin adds that Union Pacific's operating ratio was impacted by supply chain congestion and weather, and he believes that Union Pacific remains well-positioned into 2022 as supply chain issues abate.
TD Securities analyst Cherilyn Radbourne raised the price target to $245 from $240 and maintained a Hold rating on the shares following the company's Q3 earnings results.
The analyst noted that Union Pacific beat on its Q3 EPS, although the company moderated its 2021 guidance, which the analyst felt was expected based on "the industry volume backdrop and supply-chain challenges."
BMO Capital analyst Fadi Chamoun raised the price target to $265 (an upside of 11%) from $255 and maintained an Outperform rating on the shares after its Q3 earnings beat.
In spite of the weather, fuel costs, and supply chain disruption related challenges, the company is on track to deliver 26.7% earnings growth this year while finishing 2021 with $1.8 billion in structural cost savings since it started to implement the precision scheduled railroad model in the model in late 2018.
Chamoun adds that the outlook for demand and pricing will improve in 2022 and 2023, and Union Pacific is set up to deliver strong positive operating leverage.
Deutsche Bank analyst Amit Mehrotra raised the price target to $261 from $225 and maintained a Buy rating on the shares.
Mehrotra states that it is clear from the railroad earnings season that pricing is coming in stronger than expected, and there appears to be more room for further improvement in 2022.
Stephens & Co. analyst Justin Long raised the price target to $257 (an upside of 8%) from $250 and maintained an Overweight rating on the shares.
Raymond James analyst Patrick Tyler Brown raised the price target to $262 (an upside of 10%) from $250 and a Strong Buy rating on the shares.
Price Action: UNP shares are trading higher by 2.71% at $237.55 on the last check Friday.
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