Norfolk Southern price target raised to $291 from $276 at BofA
The Fly

Norfolk Southern price target raised to $291 from $276 at BofA

BofA raised the firm’s price target on Norfolk Southern (NSC) to $291 from $276 and keeps a Buy rating on the shares. Norfolk Southern’s Q3 adjusted EPS was up 23% year over year and above the Street’s estimates, and the company reaffirmed its 66% full year operating ratio target despite lowering its 2024 revenue growth target to 1% y/y from 3%, the analyst tells investors in a research note. Norfolk Southern is set to accelerate earnings on productivity improvements, the analyst argues.

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