These Analysts Revise Their Forecasts On Union Pacific After Q4 Results
Portfolio Pulse from Avi Kapoor
Union Pacific Corporation (NYSE:UNP) reported Q4 FY23 results surpassing consensus estimates with operating revenue of $6.159 billion and EPS of $2.71. Despite better results, the company faces a muted volume outlook for 2024 due to loss in international intermodal business, lower coal demand, and soft economic conditions. Union Pacific plans a $3.4 billion capital investment for 2024. Following the report, analysts at BMO Capital, RBC Capital, and JP Morgan revised their price targets for UNP, with BMO Capital increasing it to $275, RBC Capital decreasing it to $272, and JP Morgan lowering it to $237. UNP shares dropped 1% to $239.20.
January 26, 2024 | 4:52 pm
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NEGATIVE IMPACT
Union Pacific exceeded Q4 expectations but anticipates challenges in 2024, leading to mixed analyst price target revisions and a 1% share price decline.
Despite Union Pacific's strong Q4 performance, the muted volume outlook for 2024 and the subsequent drop in share price suggest a negative short-term impact. Analysts' revisions of price targets reflect uncertainty and could lead to increased volatility in the stock price. The 1% decline in share price post-earnings indicates investor concern over the company's forward-looking statements.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100