Market Overview

UPDATE: Jefferies Raises PT on Norfolk Southern Corp. on Positive Signs

Related NSC
Norfolk Southern Q2 Earnings Top Estimates on High Revenues
Morgan Stanley Sees Multiple Positive Catalysts Ahead For Norfolk Southern
Frigid Winter Fuels Rail Shipments of Coal (Fox Business)

In a report published Wednesday, Jefferies analyst Peter Nesvold reiterated a Buy rating on Norfolk Southern Corp. (NYSE: NSC), and raised the price target from $86.00 to $90.00.

In the report, Nesvold noted, “Transports rallied from 800 basis points of underperformance in 2012 to 670 basis points of outperformance in 1Q:13 into early signs of inventory restocking. While most indicators moderated in March, our unique diesel tracker reaccelerated late in the month. We await confirmation in other data in coming weeks, but for now we are inclined to stay the course: 2013 is still poised to be ‘The Year of Transports'!"

Norfolk Southern Corp. closed on Tuesday at $74.38.

Posted-In: JefferiesAnalyst Color Price Target Analyst Ratings

 

Most Popular

Related Articles (NSC)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters