Report
Keith Schoonmaker, CFA
EUR 101.80 For Business Accounts Only

Union Pacific continues to produce outstanding operating ratios, despite demand fluctuations.

U.S. Class I railroads together hauled more intermodal containers in October than during any previous month in history. Monthly containers and trailers improved 6.4% year over year and 3.7% year to date. Broad North American rails increased intermodal units 8.5% year over year during the past four weeks and 5.1% year to date. Both international and domestic were strong, up a respective 8.2% and 3.8%, per the Intermodal Association of North America. We believe intermodal is the main source of sec...
Underlying
Union Pacific Corporation

Union Pacific, through its operating subsidiary, Union Pacific Railroad Company, is a Class I railroad operating in the United States. The company's network included route miles, linking Pacific Coast and Gulf Coast ports with the Midwest and eastern United States. gateways and providing several corridors to key Mexican gateways. The company serves the western two-thirds of the country and maintains coordinated schedules with other rail carriers for the handling of freight to and from the Atlantic Coast, the Pacific Coast, the Southeast, the Southwest, Canada, and Mexico. The company's business mix includes agricultural products, energy, industrial, and premium.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Keith Schoonmaker, CFA

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