Norfolk Southern uses earnings call to derail activist investor claims
Financial results barely registered in Norfolk Southern’s (NS) earnings this week – the Class I ...
Investing.com reports:
On Monday, UBS upgraded the shares of Norfolk Southern Corp (NYSE:NSC) from Neutral to Buy, with a significant increase in the price target to $302 from the previous $238.
“We are upgrading NSC to Buy from Neutral because we expect stronger performance in NSC’s merchandise network,” said UBS.
The upgrade is based on the expectation that Norfolk Southern’s merchandise business operating ratio (OR) could see a substantial improvement. UBS predicts that the OR could decrease by up to 1,000 basis points, moving from an estimated 65% in 2023 to 55% by 2026. This improvement is anticipated to result in a total company OR of 61% and earnings per share (EPS) of $16.55…
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(Current price: $259.25.)
Also worth a read: “Norfolk Southern corrects false and misleading claims“.
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