Atlantic Equities analyst Oliver Holmes downgraded Union Pacific to Neutral from Overweight with a $244 price target. The company reported “weak numbers” with earnings, revenue and operating ratio below consensus, the analyst tells investors in a research note. With the shares up 18% in one month, the firm views Union Pacific as fairly valued. Atlantic does not take confidence from the fiscal 2023 guidance being cut but notes that Jim Vena has been appointed as the new CEO, which should enable the company to execute on its strategy.
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