Deutsche Bank analyst Amit Mehrotra downgraded Union Pacific to Hold from Buy with a price target of $215, down from $238. The analyst is "disappointed" with the company’s execution over the course of 2022, with Q4 "being particularly weak." The firm says the downgrade reflects its increasing focus on management teams with good track records as a critical criteria to recommending shares, especially in a more difficult macro environment. Meaningful upside in Union Pacific shares won’t come until there is a real operational overhaul, it contends.
Published first on TheFly
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