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Fly News Breaks for January 24, 2020
Jan 24, 2020 | 06:10 EDT
UBS analyst Thomas Wadewitz downgraded Union Pacific to Neutral from Buy but raised his price target to $201, up from $184. The analyst notes that the company has realized "impressive" cost savings in 2019 but believes that that further cost gains are already reflected in his earnings projections. Wadewitz further warns that generating large volume growth will be "difficult" this year because of the headwinds in coal and frac sand. The analyst contends that the upside of the new price target is not sufficient to warrant a Buy rating.