Jefferies Ups Price Target On Norfolk Southern (NSC), Best 'Beat' In the Rails

Jefferies lifted its price target on Norfolk Southern (NYSE: NSC) from $76 to $80 following Q3 results, but kept its Hold rating.

The firm commented, "Last night after the market, NSC beat 3Q consensus by 17%, the widest margin among the rails this earnings season. Coal, intermodal, and auto were the key drivers for the impressive third-quarter results. We have raised our price target, but remain on the sidelines due to valuation."

Q4 EPS goes form $1.30 to $1.41, FY11 goes from $5.13 to $5.37 and FY12 from $5.65 to $5.95.

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 $69.77 yesterday.

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