Despite an 11% rise over the last six months, at the current price of around $245 per share, we believe Union Pacific stock (NYSE: UNP) has more to go. Given the rebound in economic and industrial activity over the recent quarters, Union Pacific can look forward to steady revenue growth in the future. For perspective, despite the challenges during the pandemic, and inflationary headwinds in 2021, Union Pacific reported a low operating ratio figure of 57.2% in 2021, compared to 59.9% in 2020 and 60.6% in 2019.