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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Read More on NSC:
- Norfolk Southern price target raised to $302 from $294 at Citi
- Early notable gainers among liquid option names on October 22nd
- Norfolk Southern Reports Strong Q3 2024 Financial Results
- Norfolk Southern reports Q3 adjusted EPS $3.25, consensus $3.11
- Norfolk Southern reports Q3 adjusted operating ratio 63.4%