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UPDATE: Cowen Securities Raises PT to $85 on Norfolk Southern on Traffic Results Beat

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Norfolk Southern Dividend Payout Ratio Is Higher Than 5-Year Average
Earnings Scheduled For July 27, 2016
Norfolk Southern declares $0.59 dividend (Seeking Alpha)

Cowen Securities maintained Norfolk Southern (NYSE: NSC) with a Buy rating and raised the price target from $82.00 to $85.00.

Cowen Securities analyst Jason H. Seidl noted, "We are raising our 1Q13 EPS estimate to $1.23, from $1.17, as the company has thus far outperformed our original full-quarter traffic growth assumptions and growth posted by its Class I counterparts. This leaves our 1Q EPS estimate well above the consensus estimate of $1.14. Our 2013 and 2014 EPS estimates increase to $5.70 and $6.50, from $5.45 and $6.25, respectively. … NSC's outperformance is attributable to strong intermodal and petroleum shipments growth as well as a smaller-than-expected coal decline."

Norfolk Southern closed at $75.11 on Monday.

Latest Ratings for NSC

DateFirmActionFromTo
Jul 2016Credit SuisseMaintainsOutperform
Jul 2016Deutsche BankMaintainsHold
Jun 2016OppenheimerInitiates Coverage onMarket Perform

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Posted-In: Cowen SecuritiesAnalyst Color Price Target Analyst Ratings

 

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