UBS upgraded Union Pacific Corp. to Buy from Neutral and raised its price target to $339 from $310, sending the shares up 1.57% in premarket trading. The new target sits roughly 19% above current prices. The firm forecasts earnings of $13.41 per share in 2026 and $14.90 in 2027, running 3% and 5% above consensus, and models 2028 earnings of $16.15 per share against roughly $13.60 implied by the current price at 21x earnings. UBS expects 10% EBIT growth in 2027 and projects 3.5% volume growth that year, with intermodal up 6% to 7% on current trends and the relationship between intermodal performance and the truckload pricing cycle. The firm said low inventories should lift steel volumes while elevated energy prices support petroleum and products, and noted that rail pricing typically lags truck, pointing to stronger pricing for Union Pacific and making price and mix against inflation a neutral rather than a headwind.
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UBS Group AGUnion Pacific CorporationUBS upgraded Union Pacific to Buy and raised its price target to $339, citing above-consensus earnings and volume growth forecasts.
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