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Union Pacific downgraded to Neutral from Buy at Citi

Citi analyst Ariel Rosa downgraded Union Pacific (UNP) to Neutral from Buy with a price target of $250, down from $270, following the company’s acquisition of Norfolk Southern (NSC). The firm sees the appeal of a transcontinental railroad, but believes the transaction is likely to face “fierce pushback.” Citi believes both stocks could trade sideways as investors contemplate the likelihood of regulatory approval and potential conditions that could be required.

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