UPDATE: Seaport Global Securities Downgrades Norfolk Southern (NSC) to Neutral on Valuation
Get Alerts NSC Hot Sheet
Rating Summary:
20 Buy, 18 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 13 | New: 18
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Seaport Global Securities downgraded Norfolk Southern (NYSE: NSC) from Buy to Neutral with a price target of $106. The change was tied to valuation.
"With the stock trading at 16.3x our 2018 estimate (~14x if we assume a 10% reduction in its Federal tax rate), we think NSC's risk/reward no longer screams Buy, particularly because coal-related optimism could be a one-year (or less) phenomenon," said analyst Mark A. Levin.
For an analyst ratings summary and ratings history on Norfolk Southern click here. For more ratings news on Norfolk Southern click here.
Shares of Norfolk Southern closed at $111.66 yesterday.
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