Barclays raised the firm’s price target on Union Pacific (UNP) to $285 from $275 and keeps an Overweight rating on the shares. The firm says transportation equities could benefit from lower U.S. corporate tax rates following the election of Donald Trump. Given higher market multiples and improved sentiment for cyclical U.S. industrial exposure, the firm raised price targets across the group.
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Read More on UNP:
- Union Pacific price target raised to $267 from $255 at Citi
- North American rail traffic up 5.9% for the week ending November 2
- North American rail traffic up 3.1% for the week ending October 26
- Union Pacific price target lowered to $252 from $255 at TD Cowen
- Union Pacific price target lowered to $283 from $288 at RBC Capital