Stifel lowered the firm’s price target on Union Pacific (UNP) to $253 from $262 and keeps a Buy rating on the shares as part of a broader research note previewing Q4 results for Rail companies. It should not be surprising that 2024 did not turn out to be the year of momentous volume growth for the Class 1 railroads amid “many unexpected disruptions” and a slower-than-anticipated freight environment resulting in only a 2.2% volume growth this year, the analyst tells investors in a research note. Stifel adds that while it does expect modest volume growth and pricing improvements in 2025, that may not be significant enough to drive share price appreciation.
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