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Credit Suisse reiterates its Outperform rating on Norfolk Southern
NSCand cuts its target price to $89 from $93 on Q4 EPS miss.
Credit Suisse says, “NSC reported 4Q11 EPS of $1.42 which was inline with our estimate of $1.42 and above consensus of $1.40. However, when adjusting for a lower tax rate and a lower share count, EPS were $1.29 for the quarter. The O.M. for the quarter was 28.6%, which was below our forecast of 30.7%.”
NSC closed at $75.17 a share yesterday.
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