Union Pacific stock reports an earnings beat as merger review advances

Published on 09/29/2026 at 15:18 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Union Pacific stock has a USD 339 UBS target after a September 16 upgrade. Second-quarter revenue reached USD 6.86 billion and beat the USD 6.72 billion consensus.

Gelber Güterzug mit Containern fährt bei Sonnenuntergang durch die Wüste — Fotorealistischer Güterzug bei Sonnenuntergang symbolisiert Union Pacific Corp, Aktie ISIN US9078181084, Schienenlogistik in der Wüste, Illustration mit AI erstellt.

Union Pacific Corporation (ISIN US9078181081) was at EUR 241.95 at Lang & Schwarz on September 29, 2026, up 0.35 percent from the EUR 241.10 prior close. The stock's main corporate story is the proposed Norfolk Southern combination, while the latest quarter delivered revenue above consensus.

Merger review reaches the next stage

According to Union Pacific on September 22, 2026, the Surface Transportation Board unanimously rejected requests to dismiss the revised merger application without review. The decision lets the regulatory process continue and keeps the transaction's expected completion window in the second half of 2027.

The regulatory path remains the key counterweight to the merger case. The Surface Transportation Board said on September 18, 2026, that opening comments are due November 18, 2026, with responses due February 16, 2027, and stressed that continuing the review is not a decision on the merger's merits.

Earnings beat sets an operating base

MarketBeat reported that Union Pacific's second-quarter revenue was USD 6.86 billion, versus USD 6.72 billion expected, while earnings per share reached USD 3.41 against a USD 3.26 consensus estimate. Revenue was up 11.5 percent from the same quarter a year earlier, giving the merger narrative a stronger operating backdrop.

The company also raised its quarterly dividend to USD 1.42 per share, with payment scheduled for September 30, 2026, according to MarketBeat. The combination of double-digit revenue growth and a higher dividend gives investors two measurable reference points beyond the regulatory timetable.

UBS lifts its target to USD 339

On September 16, 2026, CNBC reported that UBS upgraded Union Pacific from Neutral to Buy and raised its price target from USD 310 to USD 339. UBS also projected 3.5 percent year-over-year intermodal volume growth in 2027, tying the higher target to freight volumes and the potential transcontinental network.

Lang and Schwarz price stays intraday

Union Pacific stock was trading at EUR 241.95 at Lang & Schwarz on September 29, 2026 at 3:06 p.m. CEST, up 0.35 percent versus the EUR 241.10 prior close dated September 28, 2026. The reference price is below the primary-market 52-week high of USD 315.99 and above the low of USD 215.53, while market capitalization stood at USD 162.8 billion as of September 28, 2026.