BofA lowered the firm’s price target on Union Pacific (UNP) to $260 from $270 and keeps a Buy rating on the shares after the company reported quarterly results. The company continues to be impacted by robust Intermodal growth, as lower rated International volumes grew 33% year-over-year in Q3, the analyst tells investors in a research note. The firm added that CFO Jen Haman is targeting Q4 results to be “consistent” with Q3, leaving it open ended to encompass revenue, operating income, operating ratio, and/or earnings per share. This led BofA to lower its Q4 revenue growth target to 0.7% year-over-year from 1.6%, the analyst adds.
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Read More on UNP:
- Union Pacific expects Q4 results to be consistent with Q3
- Union Pacific reports Q3 EPS $2.75, consensus $2.78
- North American rail traffic down down 0.6% for the week ending October 19
- UNP Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Union Pacific price target raised to $275 from $265 at Raymond James
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