Wells Fargo Upgrades Norfolk Southern (NSC) to Outperform; Raising Numbers

Wells Fargo upgraded Norfolk Southern (NYSE: NSC) to Outperform with a price target range of $85-$92.

Wells analyst says, "We believe NSC has an attractive position in large Eastern consumption markets, appealing exposure to certain commodity groups, and the ability to create organic growth through network expansion and industrial development. While NSC initially lagged peers with cost reductions as freight markets contracted, it has since made investments in processes and technologies that we think can support margin recovery...We raise our 2011E EPS to $5.23 from $4.81 and 2012E EPS to $6.10 from $5.70."

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 $75.55 yesterday.

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