BMO Capital analyst Fadi Chamoun lowered the firm’s price target on Union Pacific to $245 from $250 but keeps an Outperform rating on the shares. The company’s Q4 results missed expectations due to weaker-than-anticipated revenue mix, and while network performance improved sequentially, it remains well below prior peak performance levels, the analyst tells investors in a research note. The firm adds however that there is a strong case for Union Pacific to defend earnings in FY23 and return to double-digit growth once demand recovers.
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Published first on TheFly
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