Goldman Sachs lowered the firm’s price target on Norfolk Southern to $252 from $257 but keeps a Buy rating on the shares. The company’s Q3 revenue of $2.97B was below the firm’s estimates, reflecting in line performance for volume growth and lower-than-forecast yield growth, the analyst tells investors in a research note. The firm adds however that it remains Buy-rated on the stock on valuation as well as an eventual volume recovery, which should enable a positive turnaround in the company’s operating ratio trajectory in coming quarters.
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Read More on NSC:
- North American rail traffic up 0.1% for the week ending October 21
- Norfolk Southern reports third quarter 2023 results
- Norfolk Southern reports Q3 adjusted EPS $2.65, consensus $2.69
- Norfolk Southern Declares Quarterly Dividend
- NSC Upcoming Earnings Report: What to Expect?
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