BMO Capital raised the firm’s price target on Union Pacific (UNP) to $277 from $270 and keeps an Outperform rating on the shares. Union Pacific again reported a strong performance, beating Q2 expectations despite persistent macro and trade headwinds, the analyst tells investors in a research note. While a path to transcon mergers is uncertain, successfully navigating an approval for a transcon merger has the potential to be highly accretive to earnings and transformative, the firm adds.
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