Dahlman Rose has published a report on Norfolk Southern Corporation.
In the report, Dahlman Rose wrote, "Norfolk Southern reported 2Q11 EPS of $1.56. However, this result included $63 MM in one-time tax benefits, without which EPS from continuing operations came in at $1.38, well above our and consensus estimates of $1.31 and $1.29, respectively. The quarter's EPS represented 32% growth from the same period last year and was the highest quarterly EPS in company history. Operating income came in at $875 MM, ahead of our and consensus estimates of $836 MM and $822 MM, respectively."
Dahlman Rose rated Norfolk Southern a BUY with a price target of $89.00. Norfolk Southern closed Tuesday at $75.55.
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