JPMorgan cuts Union Pacific stock target to USD 321.00

Published on 10/27/2026 at 18:21 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue rose 15.00 percent in the third quarter. Union Pacific stock costs EUR 268.45 on October 27, 2026, plus 0.36 percent versus the Xetra close.

JPMorgan target cut

JPMorgan Chase cut its Union Pacific target from USD 322.00 to USD 321.00 on October 23, 2026.
Third-quarter operating revenue rose 15.00 percent to USD 7.20 billion on October 22, 2026.
Union Pacific stock costs EUR 268.45 at Lang & Schwarz on October 27, 2026 at 6:15 p.m. CET, plus 0.36 percent versus the Xetra close of EUR 267.50.
The NYSE price-to-earnings ratio was 23.31 and market capitalization was USD 177.8 billion on October 27, 2026.

Union Pacific, US9078181081, Illustration mit AI erstellt.

Union Pacific (ISIN US9078181081) faces a lower JPMorgan Chase price target of USD 321.00, down from USD 322.00 in the research note dated October 23, 2026, according to MarketBeat. The target stood 7.26 percent above the NYSE price of USD 299.26 at 1:19 p.m. ET on October 27, 2026. At Lang & Schwarz, the stock was trading at EUR 268.45 on October 27, 2026 at 6:15 p.m. CET, plus 0.36 percent versus the Xetra close of EUR 267.50.

Revenue growth sets the tone

Union Pacific reported third-quarter 2026 operating revenue of USD 7.20 billion, up 15.00 percent from USD 6.24 billion in the third quarter of 2025. The company also reported net income of USD 2.08 billion and diluted earnings per share of USD 3.49, each up 16.00 percent year over year, in its October 22, 2026 release. The release came from Union Pacific.

Freight revenue excluding fuel surcharge increased 6.00 percent to USD 5.64 billion, while revenue carloads grew 6.00 percent to 2.29 million. Higher fuel prices lifted fuel expense 69.00 percent to USD 1.04 billion in the quarter, creating a clear counterweight to volume and pricing gains.

Stock sits below the yearly high

On the NYSE, Union Pacific last traded at USD 299.26 on October 27, 2026 at 1:19 p.m. ET. The USD 215.53 to USD 315.99 52-week range places the stock 5.30 percent below its high. The session volume was 513,948 shares, while the price-to-earnings ratio was 23.31 and market capitalization was USD 177.8 billion.

Railroad valuations diverge

Union Pacific's third-quarter operating ratio was 59.10 percent, compared with 59.20 percent in the third quarter of 2025. Its adjusted operating ratio was 58.80 percent, reflecting acquisition-related costs excluded from the adjusted figure. The company also affirmed high-single-digit reported earnings-per-share growth for 2026 and set its 2026 capital plan at USD 3.50 billion in the October 22 release.

Comparison with peers

Union Pacific: plus 0.36 percent versus the Xetra close, price-to-earnings ratio 23.31, market capitalization USD 177.8 billion.

CSX Corporation (NYSE, USD): plus 1.36 percent, price-to-earnings ratio 26.94, market capitalization USD 96.3 billion.

Norfolk Southern Corporation (NYSE, USD): plus 1.17 percent, price-to-earnings ratio 28.30, market capitalization USD 75.9 billion.

Target cut leaves a measured premium

JPMorgan's revised USD 321.00 target leaves 7.26 percent upside to the NYSE price cited in the October 23 report. The smaller target reduction keeps the analyst action relevant, while the latest quarter's 15.00 percent revenue growth provides the operating counterpoint. At Lang & Schwarz, Union Pacific stock was trading at EUR 268.45 on October 27, 2026 at 6:15 p.m. CET, plus 0.36 percent versus the Xetra close of EUR 267.50 on October 27, 2026. The further course of trading is shown by the continuously updated real-time quote of Union Pacific stock.