Norfolk Southern (NSC) PT Raised to $305 at Bernstein SocGen Group

Bernstein SocGen Group analyst David Vernon raised the price target on Norfolk Southern (NYSE: NSC) to $305.00 (from $295.00) while maintaining a Outperform rating.

The analyst comments "Taking up our targets for both companies. We are raising our target price for NSC from $295 to $305 - maybe a little ahead of what it could nominally “trade” for whenever the exchange of shares ratio is announced, and taking our target price for UNP from $271 to $286. We get that buyers' stocks go down and target stocks go up, but we still think this is going to be a more friendly deal than a typical takeout. Both shareholder groups have the potential to unlock significant value in this transaction that is otherwise unable to be unlocked. We are not baking in the fully realized approved deal, but moving closer in that direction and reiterate our Outperform on both UNP and NSC."

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