As previously reported, BofA analyst Ken Hoexter downgraded Union Pacific to Neutral from Buy with a price target of $218, down from $238, citing sustained pressure on costs, negative mix and inflation impacts. The firm, which lowered its 2023 and 2024 EPS forecasts by 6% and 7%, respectively, believes 2023 will represent "trough EPS."
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Published first on TheFly
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Read More on UNP:
- Union Pacific Reports Fourth Quarter and Full Year 2022 Results
- Union Pacific CEO says Q4 revenue growth offset by elevated operating expenses
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- Union Pacific expects 2023 carloads to exceed Industrial Production
- Union Pacific reports Q4 EPS $2.67, consensus $2.78