Union Pacific is working with Morgan Stanley investment bankers to provide guidance on the potential acquisition of another Class I railroad, the online publication Semafor reported on Wednesday, citing people familiar with the matter.

Union Pacific Corp. (NYSE: UNP) is showing strong growth in operations and finances, supported by productivity gains and a earnings beat. Analysts raise price forecast and see potential for merger with Norfolk Southern.

Union Pacific is a dominant, efficiently run railroad with pricing power, poised for a cyclical rebound and potential NSC merger upside. Learn more about UNP stock here.

News reports say that BNSF Railway has hired Goldman Sachs to advise it about a potential rail merger. Semafor, an online publication, reported on Monday evening that BNSF has engaged Goldman Sachs in the wake of Union Pacific working with Morgan Stanley regarding potential mergers.

Union Pacific Corporation (NYSE:UNP) reported second-quarter 2025 earnings that beat analyst forecasts, driven by stronger freight volumes and enhanced operational efficiency. Following the announcement,