Loading...
Loading...
BMO Capital Markets lowers its price target on Outperform-rated Norfolk Southern
NSC by $1 to $86 on unfavorable mix and lower coal shipments weighing on results for first half of 2012.
BMO Capital Markets says, "Milder than usual winter temperatures, low gas prices and modest economic growth are placing significant pressure on U.S. domestic thermal coal demand. Comments by Arch and Peabody Energy point to a potential 3.5% to 8.5%
decline in U.S. domestic coal volumes in 2012. ...We believe that coal volumes will decline y/y (BMO estimate of 4%), particularly in H1/12. Moreover, we believe that NSC could face significant mix pressure in H1/12, which could result in lower revenue/carload compared to a strong H1/11."
NSC closed at $67.84 a share on Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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