RBC Capital raised the firm’s price target on Union Pacific (UNP) to $289 from $273 and keeps an Outperform rating on the shares. The company reported strong Q1 results, as volumes and margin contributed, and with trends continuing into Q2, the only question was why the guidance wasn’t raised, the analyst tells investors in a research note. RBC adds, however, that while fundamentals are positive, deal expectations will be a key factor driving share performance.
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