(Bloomberg) -- Union Pacific Corp. was initiated at ``overweight'' at Morgan Stanley, which said the biggest U.S. railroad is a ``top pick'' in an industry that is increasing its pricing power and may outperform the broader market this year.
Morgan Stanley also started coverage of Norfolk Southern Corp., the fourth-largest U.S. railroad, at ``overweight.'' Burlington Northern Santa Fe Corp., the second-largest U.S. railroad, CSX Corp., the third-largest, and Canadian Pacific Railway Ltd., Canada's second-largest railroad, were rated ``equal-weight'' in new coverage by analyst William Greene.
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