Railroad operator Norfolk Southern Corp. ( NSC ) on Thursday saw its price target and earnings estimates lowered by analysts at UBS.
The firm said it now expects NSC shares to reach $74, suggesting a smaller 8% upside to the stock's Wednesday closing price of $68.30.
UBS also maintained its "Neutral" rating on NSC but cut its earnings estimates, citing higher recent fuel costs with somewhat lower coal yields.
Norfolk Southern shares rose 35 cents, or +0.5%, in premarket trading Thursday.
The Bottom Line
Shares of Norfolk Southern ( NSC ) have a 2.52% dividend yield, based on last night's closing stock price of $68.30. The stock has technical support in the $62-$65 price area. If the shares can firm up, we see overhead resistance around the $70-$73 price levels.
Norfolk Southern Corp. ( NSC ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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