Union Pacific (UNP) Analyst Day Highlights Technology Improving Operations - Wells Fargo
- S&P 500 ends little changed as Powell says Fed still a ways away from rate hikes
- Facebook (FB) Tops Q2 EPS by 59c, DAUs were 1.91 billion on average
- PayPal (PYPL) Tops Q2 EPS by 2c, Guidance Misses
- Alphabet (GOOGL) Crushes Q2 Expectations to Send Shares Higher as Search and YouTube Excel, Attracts a New Street-High Price Target
- Fed maintains federal funds rate at 0 to 1/4 percent
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
Wells Fargo analyst Allison Poliniak-Cusic reiterated an Equal Weight rating and $226.00 price target on Union Pacific (NYSE: UNP) after the company hosted a virtual Analyst Day, where CEO Lance Fritz comments highlighted the benefits of technology improving operations.
The analyst stated "The PSR model has allowed UNP to help simplify the network, which has led to more consistent service at a lower cost, and thus we believe these improvements will help open new markets. While much progress has been made,UNP believes there is still room to improve; however, much of the improvement will likely come from additional investment. Technology was a large component on improved efficiencies with UNP highlighting its terminal planning tools and train profiles in order to create additional capacity. Furthermore, UNP has a strong interest in autonomous technology noting its development of its "Geometry Car", autonomous Tie Unloading,and autonomous tie plate distribution; trains are expected to eventually be automated." Regarding estimates, the analyst stated "we continue to believe that both revenues and volumes could be relatively tempered, leaving near-term upside from its improving operations. We are not changing our estimates or our price target as we take a more "wait and see" approach to long-term revenue growth".
Shares of Union Pacific closed at $225.67 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Union Pacific (UNP) PT Raised to $250 at Argus
- General Dynamics Corp. (GD) PT Raised to $222 at Vertical Research Partners
- Allied Properties Real Estate (AP-U:CN) (APYRF) PT Raised to Cdn$52 at Scotiabank
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesWells Fargo
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!