Goldman Sachs raised the firm’s price target on Union Pacific (UNP) to $277 from $275 and keeps a Buy rating on the shares after its Q4 earnings beat. The company continues to perform with solid traction on the productivity and cost-takeout front, with headcount down 4% on average in the second half of 2024 despite volumes rising 5% as margins improved 260bps from last year, and this should help sustain high levels of incremental margins as the macro environment improves through 2025, the analyst tells investors in a research note.
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