Union Pacific price target raised to $263 from $262 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Union Pacific (UNP) to $263 from $262 and keeps a Neutral rating on the shares after its Q3 results. The company’s recently strong carload growth trajectory moderated vs. Q2, and the first few weeks of rail traffic data for Q4 are indicating that Union Pacific total carload growth is down about 6% y/y, with Intermodal carload growth down mid-teens and Ex-Intermodal carload growth up 2% y/y, the analyst tells investors in a research note.