Railroad operator Union Pacific Corporation ( UNP ) on Tuesday caught a big upgrade from analysts at Goldman Sachs.
The firm said it boosted its rating on UNP from "Neutral" to "Buy" but cut its price target from $118 to $111. That new target still suggests a solid 27% upside to the stock's Monday closing price of $87.45, however.
Goldman noted that existing contract renewals should help spur further pricing gains into next year, and commended UNP's diversified revenue opportunities in the highly-varied products the company ships.
Union Pacific shares rose $2.19, or +2.5%, in premarket trading Tuesday.
The Bottom Line
Shares of Union Pacific ( UNP ) have a 2.17% dividend yield, based on last night's closing stock price of $87.45. The stock has technical support in the $80-$85 price area. If the shares can firm up, we see overhead resistance around the $92-$95 price levels.
Union Pacific Corporation ( UNP ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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