Deutsche Bank Downgrades Norfolk Southern (NSC) to Hold; Short Peak Season Is Now Hitting The Ports

Deutsche Bank downgraded Norfolk Southern (NYSE: NSC) from Buy to Hold.

Deutsche analyst says, "Although shares have traded off 12.7% since their recent peak on July 7 (vs. 11.7% decline in the S&P 500), NSC shares have held up better than its railroad peers, which are down 18.0% over the same period. However, our sensitivity analysis highlighted the greatest downside potential in NSC at current levels. Given an expected pick-up in Australian coking coal production and economic uncertainty, we are cautious about NSC’s export met coal 2012 comparisons (competitor CSX has already lowered export coal expectations)."

For more ratings news on Norfolk Southern click here and for the rating history of Norfolk Southern click here.

Shares of Norfolk Southern closed at $67.21 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Piper Sandler Downgrades Magnolia Oil & Gas Corp. (MGY) to Neutral
• Hertz Global (HTZ) PT Lowered to $6 at Deutsche Bank
• Deutsche Bank Upgrades Westlake Chemical (WLK) to Buy