Norfolk Southern price target raised to $302 from $294 at Citi

Citi analyst Ariel Rosa raised the firm’s price target on Norfolk Southern (NSC) to $302 from $294 and keeps a Buy rating on the shares after the company reported quarterly results. COO John Orr seems to be succeeding for Norfolk has previously struggled, making headway in precision scheduled railroading implementation while driving efficiency gains and margin improvement, the analyst tells investors in a research note. The firm said that the company continues to see its previously guided sub-60 operating revenue as feasible conditional on support from the macro, though it does appear the strong OR this quarter was driven at least in part by volume and operating leverage pull-forward.