- JPMorgan analyst Brian Ossenbeck upgraded Union Pacific Corp (NYSE:UNP) to Overweight from Neutral and raised the price target to $247 (implying an upside of 15%) from $234. Ossenbeck cites valuation for the upgrade following the stock’s recent weakness.
- He mentions that expectations have fallen enough that cutting the 2021 volume guidance with its Q3 earnings “won’t come as a surprise.”
- He adds that while West Coast ports remain congested, he has seen rail dwell time in Los Angeles “materially improve over the last month.”
- Recently, Wells Fargo raised the price target to $246 (implying an upside of 14.4%) from $240 and maintained an Equal-Weight on the shares.
- Citigroup lowered the price target to $245 (implying an upside of 14%) from $255 and maintained a Buy rating on the shares.
- Price Action: UNP shares are trading higher by 1.67% at $215.42 on the last check Friday.
Meta, PayPal Lead S&P 500 Lower In A Mixed Day Of Trading
U.S. indices had a mixed day of trading Monday. Tech stocks mostly rebounded after falling recently due to rising yields and worse-than-expected earnings from Meta Platforms Inc (NASDAQ: FB).
