RBC Capital upgraded Union Pacific to Outperform from Sector Perform with a price target of $282, up from $193, following the announcement that the company has appointed Jim Vena as CEO. The firm expects Vena’s “strong operating philosophy” to result in “a marked turnaround in operating performance” and for the company to drive O/R and service more toward PSR peers. The firm, which assumes this turnaround is achieved by 2025, resulting in mid-teen EPS compound annual growth out to 2025, now values the stock off 2025 estimates, the analyst noted.
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