BofA analyst Ken Hoexter lowered the firm’s price target on Union Pacific (UNP) to $260 from $271 and keeps a Buy rating on the shares following Q3 results. The firm noted that CEO Jim Vena highlighted the benefits of faster cycle times, increased U.S. competitiveness compared to Canadian ports and enhanced U.S. manufacturing infrastructure as pros for the Norfolk Southern merger. However, BofA added that Union Pacific is experiencing some weak near-term volumes and dilution overhang. Additionally, the firm noted near-term intermodal volume pressure and challenging 1H26 comps.
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