Union Pacific upgraded to Positive at Susquehanna following underperformance

As previously reported, Susquehanna analyst Bascome Majors upgraded Union Pacific (UNP) to Positive from Neutral with a price target of $260, up from $245. The firm notes it had set cautious rail volume views exiting April’s Q1 earnings season “under the cloud of Liberation Day uncertainty, but with just a week left in Q2, rail volumes have come in “better than we’d feared,” the analyst tells investors. The firm views Union Pacific’s share price underperformance as an opportunity given a better-than-feared volume backdrop for rails, the analyst added.