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UBS Upgrade Gives Burlington Northern (BNI) and Norfolk Southern (NSC) a Ride
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Shares of Burlington Northern Santa Fe (NYSE: BNI) and Norfolk Southern (NYSE: NSC) are getting a boost today, up 2.6% and 2.8% respectively, after UBS upgraded both rail stocks to Buy today.
UBS said the rail sector can be helped by a strong Q3 earnings season due to lower fuel cost with peaking fuel surcharges.
UBS expects EPS estimates to move higher and expects most of the stocks to beat consensus views.
UBS set a $114 price target on Burlington Northern and $76 price target on Norfolk Southern. Shares of Burlington Northern are trading at $99 today and Norfolk Southern is trading at $64.
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