UPDATE: Stifel Nicolaus Raises PT on Norfolk Southern to $88

Stifel Nicolaus is out with its report today on Norfolk Southern (NYSE: NSC), raising its PT from $85 to $88.

In its report, Stifel Nicolaus writes, "We continue to rate the company's common shares Buy. Our 12-month price target increases from $85 to $88 (or 12.5x our newly issued 2013 EPS estimate of $7.00)."

At the time of posting, shares of NSC were trading at $73.68, up 5.60% from Wednesday's close.