🟢 Union Pacific is trading 4.3% up in after-hours trading after STB resumed merger review

Union Pacific is trading 4.3% up at $291.34 after the Surface Transportation Board accepted the revised Union Pacific–Norfolk Southern merger application and resumed regulatory review.

• The development strengthens confidence that the proposed $85 billion combination can proceed, although approval is not guaranteed.
• At the Morgan Stanley Laguna Conference, the company presented improving freight demand and strong service.
• UBS recently upgraded Union Pacific to Buy and raised its price target to $339.