Union Pacific (UNP) Stock in 2025: Merger Bets, Earnings Strength and What Comes Next
Union Pacific shares traded near $233 on December 9, 2025, valuing the company at about $139 billion. The railroad faces an $85 billion proposed merger with Norfolk Southern, which would create the first coast-to-coast freight line in the U.S. The company reported strong earnings, raised its dividend, and maintains a trailing P/E of about 19–20x.