Barclays analyst Brandon Oglenski raised the firm’s price target on Union Pacific to $230 from $220 and keeps an Overweight rating on the shares. The Q4 transport results are likely to be soft given deteriorating fundamentals at the end of 2022, but the potential for destocking and bottoming in truck pricing later in 2023 "could provide ample green shoots for value investors," Oglenski tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on UNP:
- North American rail traffic down 4.3% for the week ending December 31
- Why These 3 Railroad Stocks Can Outperform in 2023
- North American rail traffic down 5.1% for the week ending December 24
- North American rail traffic down 2.9% for the week ending December 17
- Union Pacific upgraded to Outperform from In Line at Evercore ISI