In a report published Thursday, RBC Capital Markets analyst Walter Spracklin downgraded the rating on Norfolk Southern Corp. NSC from Outperform to Sector Perform, and lowered the price target from $94.00 to $89.00.
In the report, RBC Capital Markets noted, “We have a favourable longer-term view on NSC on the basis of its highly competitive Intermodal network and attractive valuation. However, near-term freight rate trends and continued coal concerns have prompted us to take a more conservative view on our base assumptions out to 2015. Accordingly, we are reducing our rating to Sector Perform and recommend taking profits off the share price performance year-to-date.”
Norfolk Southern Corp. closed on Wednesday at $79.91.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in