As previously reported, Bernstein analyst David Vernon downgraded Union Pacific to Market Perform from Outperform and lowered its price target on the shares to $177 from $190. The analyst believes is not worth playing in a down freight market as rail stocks do not work in a down truck market.

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.