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Why Union Pacific Stock Lagged the Market Today
The stock market ended Wednesday well higher, but some benefited from the rally more than others.One that lagged a bit behind peers was railroad company Union Pacific (NYSE: UNP); the market was guarded about the stock after it was flagged for a pair of analyst price target cuts. Its 7%-plus rise on the day would be impressive for a typical trading session, but Wednesday's saw the S&P 500 index blast 9.5% higher.Neither of the cuts was overly dramatic, but together they dampened sentiment on Union Pacific's future. The first came from Jefferies' Stephanie Moore, who set a new price target of $230 per share; previously she had considered it worth $255. Continue reading
The stock market ended Wednesday well higher, but some benefited from the rally more than others.
One that lagged a bit behind peers was railroad company Union Pacific (NYSE: UNP); the market was guarded about the stock after it was flagged for a pair of analyst price target cuts. Its 7%-plus rise on the day would be impressive for a typical trading session, but Wednesday's saw the S&P 500 index blast 9.5% higher.
Neither of the cuts was overly dramatic, but together they dampened sentiment on Union Pacific's future. The first came from Jefferies' Stephanie Moore, who set a new price target of $230 per share; previously she had considered it worth $255.
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