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Barclays downgrades Union Pacific (NYSE:UNP) to Equalweight

  • Lowers rating from Equalweight on “quite aggressive” estimates
  • UNO has Outperform sell-side rating average
  • Shares have advanced 23.9% in 201

Barclays turned bearish on Union Pacific Corporation (NYSE:UNP) on Thursday after downgrading the transport company to Equalweight in its latest coverage.

Barclays believes recent estimates for the stock are particularly “aggressive” against the backdrop of a slower demand environment and promptly lowered its rating from Overweight.

While the bank is concerned about the short to medium term outlook, UNP retains an Outperform sell-side average rating. It has also made share gains of 23.9% since 1st January.