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UPDATE: Sterne Agee Lowers PT to $81 on Norfolk Southern on Coal Fundamentals

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Sterne Agee reiterated its Buy rating on Norfolk Southern (NYSE: NSC) but reduced its price target from $84 to $81.

Sterne Agee commented, "NSC's take is that coal will not recover in the near-term, and this railroad is largely levered to domestic steam and export met coals. Coal trends worsened in September - particularly in export markets. Potential good news is recent signs that international met coal demand could be reviving - however, we are taking a 'show me' attitude with our EPS view. Intermodal and Auto strength will drive modest EPS improvement until then."

Norfolk Southern closed at $66.01 on Tuesday.

Latest Ratings for NSC

Oct 2018Morgan StanleyMaintainsUnderweightUnderweight
Oct 2018Credit SuisseMaintainsOutperformOutperform
Oct 2018BairdMaintainsNeutralNeutral

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Posted-In: Sterne AgeeAnalyst Color Price Target Intraday Update Analyst Ratings


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UPDATE: BMO Capital Markets Reiterates Outperform Rating on Norfolk Southern Corp., Lowers PT

UPDATE: BMO Capital Markets Downgrades Avista to Underperform, Lowers PT