UPDATE: Morgan Stanley Reiterates Overweight Rating, Raises PT on Union Pacific Corporation on Solid 1Q EPS Despite Weather

In a report published Monday, Morgan Stanley analyst William J. Greene reiterated an Overweight rating on Union Pacific Corporation UNP, and raised the price target from $200.00 to $205.00. In the report, Morgan Stanley noted, “UNP delivered solid 1Q EPS despite weather. The outlook for FY14 and FY15 is strong and we see accelerating pricing, volume and margin opportunities. 1Q results reinforce UNP's position as a transport champion. We are raising estimates for FY14/FY15 and YE14 PT to $205/shr.” Union Pacific Corporation closed on Thursday at $189.59.