Norfolk Southern Corporation (NYSE: NSC ) - This rail transportation company and its subsidiaries engage in the movement of raw materials, intermediate products and finished goods that represent a broad cross section of the economy with an emphasis on energy (coal).
We've been following NSC for a long time, and in September 2009 said, "Several days ago, NSC signaled a short-term buy when the 20-day moving average crossed over the 200-day, and the stochastic turned sharply higher. The target for a trade is $50, but the longer-term target is $55 to $60."
That target was met on May 3 at $61.59.
Since then, NSC has been consolidating with support from its 200-day moving average.
Any weakness in the stock should be used as a buying opportunity, especially if bought under $54.50.
The longer-term target for this quality blue-chip transportation company is $65.
S&P rates the stock a "four-star buy" with a 12-month objective of $67. It has a dividend yield of 2.4%.
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