UNP reported revenue growth of 5% and EPS growth of 10% y/y (mostly thanks to share repurchase and a lower tax rate). However, UNP consolidated today on network fluidity issues, lower pricing than expected and poor Intermodal growth. Just a reminder that prior to today, the stock had climbed 34% in the past 6 months. We are seeing no degradation to our long-term thesis of a management team focused on productivity and returns. We are increasing our price target to $145 after rolling over our model to 2018. Continue reading “UNP 4Q17 earnings results impacted by implementation of new technology and lower pricing”