Union Pacific price target lowered to $233 from $253 at Evercore ISI

Evercore ISI lowered the firm’s price target on Union Pacific (UNP) to $233 from $253 and keeps an In Line rating on the shares. The firm notes Union Pacific posted Q1 EPS of $2.70, beating its estimate by a penny but falling short of the average Street forecast of $2.74. Headwinds from unfavorable fuel surcharge comps and one less operating day, impacted EPS by 19c and the operating ratio by 90 basis points, with the latter missing Evercore’s forecast and the Street projection by 20bp-30bp.