** Shares of U.S. rail equipment supplier Union Pacific UNP.N rise 5.8% to $309.91 after co beats Q2 results on higher freight rates, strong demand

** Stock hit an all-time high of $315.99 earlier in the session

** Co posts Q2 adjusted EPS of $3.41 and revenue of $6.86 bln vs analysts' estimates of $3.24 and $6.71 bln, respectively, as per data compiled by LSEG

** Co expects high single-digit EPS growth in 2026, on track to achieve its 2027 goals

** UNP is pursuing an $85 bln acquisition of Norfolk Southern NSC.N, to create the first coast-to-coast U.S. freight railroad operator

** 18 out of 27 brokerages rate the stock "buy" or higher and nine rate it "hold"; median PT is $313 - LSEG data

** Including session's move, stock has risen 34.7% YTD compared to 8.5% increase in the S&P 500 .SPX