BofA raised the firm’s price target on Union Pacific (UNP) to $265 from $237 and keeps a Buy rating on the shares. The company naming Jim Vena, former COO of Union Pacific and Canadian National (CNI), as its new CEO, to unlock long-term value “overshadows” the EPS miss, the analyst tells investors. The firm believes adding Mr. Vena’s expertise “is the right move” given Union Pacific’s operational issues and view his appointment as “a major catalyst for the shares,” the analyst added.
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Read More on UNP:
- Union Pacific price target raised to $285 from $230 at Barclays
- Union Pacific downgraded to Neutral from Overweight at Atlantic Equities
- Union Pacific Stock Surges after Announcing New CEO
- North American rail traffic down 3% for the week ending July 22
- RBC upgrades Union Pacific to Outperform after Vena named CEO