(NewRatings.com posted the following article on May 3.)
NEW YORK — Analysts at UBS reiterate their “buy” rating on Union Pacific (UNP.NYS). The target price has been raised from $68 to $70.
In a research note published on April 30, the analysts mention that the company reported its 1Q04 GAAP EPS ahead of the estimates and the consensus. The company posted 6.5% q/q growth in commodity revenues on account of volume and price increases, the analysts say. Union Pacific has reiterated its three-part operational recovery plan for this year, according to UBS. The company’s share price is likely to appreciate substantially in late 2004, the analysts say.