Baird lowered the firm’s price target on Union Pacific (UNP) to $260 from $270 and keeps an Outperform rating on the shares. The firm said mix headwinds pressured Q3 results, and the outlook for consistent trends sequentially in Q4 weighed on estimates, but Baird would be buyers on the wekness calling it a higher quality cyclical.
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Read More on UNP:
- Union Pacific price target lowered to $275 from $280 at Barclays
- Union Pacific price target lowered to $260 from $270 at BofA
- Union Pacific expects Q4 results to be consistent with Q3
- Union Pacific reports Q3 EPS $2.75, consensus $2.78
- North American rail traffic down down 0.6% for the week ending October 19