Stephens analyst Justin Long raised his price target for Union Pacific to $100 from $91 following Q1 results above expectations. Despite a "tough" environment as volumes fell 8% year over year and significant headwinds, the company benefited from productivity gains and core price increases, the analyst tells investors in a research note. Long reiterates an Overweight rating on the shares.

Deutsche Bank placed a "Catalyst Call: Buy" on shares of Union Pacific (UNP) as a short-term investment idea. With all the attention Norfolk Southern (NSC) is getting in recent months, it is easy to overlook developments at other railroads, the analyst tells investors in a research note. The firm says Union Pacific is now the worst performing pail stock year-to-date. However, operating metrics "clearly show that UNP's renewed efforts on operations are gaining traction," contends Deutsche Bank. It keeps a Buy rating on the shares with a $266 price target.