Raymond James raised the firm’s price target on Union Pacific (UNP) to $285 from $265 and keeps a Strong Buy rating on the shares. Raymond James is confident that Union Pacific’s renewed focus on driving service quality and growth will yield a more profitable and reliable network by spinning assets faster and adhering to a tighter transportation plan, with the company’s CEO emboldening the view that change will happen quickly, the analyst tells investors in a research note. Improved service, the ESG benefits of rail, and truck congestion could drive volumes, price, and earnings higher than contemplated, the firm says.
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