Union Pacific price target raised to $301 from $297 at BofA

BofA raised the firm’s price target on Union Pacific (UNP) to $301 from $297 and keeps a Buy rating on the shares. The shares jumped midday as CSX (CSX) and Union Pacific’s results highlighted strong operational performance at the Rails, for a group that has generally lagged the overall Transport stock gains since last Fall, the analyst tells investors in a research note. The firm added that the groups’ multiples remain within historical bands, while other early cyclicals trade well above historical one-standard deviation levels.