Norfolk Southern CorporationNSC was a big mover last session, as the company saw its shares rise nearly 11% on the day. Shares moved up on reports that the company is exploring a potential merger with Canadian Pacific Railway (CP). This led to solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $77.44 to $81.60 over the past one-month time frame.
This Trans-Rail industry stock witnessed eight positive estimate revisions over the past 30 days. The Zacks Consensus Estimate also moved up over the same time frame, suggesting that more solid trading could be ahead for Norfolk Southern. So make sure to keep an eye on this stock going forward to see if yesterday's jump can turn into more strength down the road.
Norfolk Southern carries a Zacks Rank #3 (Hold).
However, a better-ranked stock in the same space is USD Partners LP USDP , sporting a Zacks Rank #1 (Strong Buy).
Is NSC going up? Or down? Predict to see what others think: Up or Down
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NORFOLK SOUTHRN (NSC): Free Stock Analysis Report
USD PARTNERS (USDP): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
