RESEARCH ALERT- Union Pacific estimates raised
March 22, 1999 03:42 PM
CHICAGO, March 22 (Reuters) - Gruntal & Co. LLC analyst Steve Lewins said Monday he raised his first quarter earnings per share estimate for Union Pacific Corp UNP , the nation's largest rail carrier, to $0.45 from $0.25 per share.
-- Union Pacific also maintained at strong buy. First quarter estimates were raised because the railroad was not severely affected by harsh weather, Lewins said in a research note.
-- 1999 earnings per share estimate raised to $2.70 from $2.40, while 2000 estimate raised to $3.50 to $3.00 due to an accelerated recovery, the analyst said.
-- Lewins also raised his 12-month price target to $70 from $63.
-- "Now that Union Pacific has completed its recovery from the meltdown, it can focus on regaining customer confidence with good or improved service, recovering market share and restoring revenue and reducing failure costs," Lewins said.
-- Shares of Union Pacific were up 5/16 at 50-5/8.
((--Chicago Equities News at 312-408-8787, chicago.equities.newsroom@reuters.com))
REUTERS |
