Argus downgraded Union Pacific (UNP) to Hold from Buy with no price target. The firm cites the company’s recent announcement of a merger with Norfolk Southern (NSC) that it believes will negatively impact profitability if approved, the analyst tells investors in a research note. Union Pacific is also facing export challenges due to tariffs, while the stock trades at five-year valuation lows on P/E and price to sales basis, Argus added.
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