Union Pacific Corp (NYSE:UNP) reported weaker-than-expected second-quarter results.
Union Pacific reported a second-quarter FY23 operating revenue decline of 5% year-over-year to $5.96 billion, missing the consensus of $6.12 billion. EPS was $2.57 (-12% Y/Y), missing the consensus of $2.75.
Additionally, the company announced the appointment of Jim Vena as chief executive officer; Beth Whited as president, and elected Mike McCarthy as chairman, effective Aug. 14, 2023.
Union Pacific shares gained 10.4% to close at $238.00 on Wednesday, but lost 0.8% in today’s pre-market trading session.
These analysts made changes to their price targets on Union Pacific following earnings announcement.
- Raymond James boosted the price target on Union Pacific from $230 to $270. Raymond James analyst Patrick Tyler Brown maintained a Strong Buy rating.
- Barclays increased the price target on Union Pacific from $230 to $285. Barclays analyst Brandon Oglenski maintained an Overweight rating.
- Atlantic Equities analyst Oliver Holmes, meanwhile, downgraded Union Pacific from Overweight to Neutral and announced a $244 price target.
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