UPDATE - UBS Upgraded Norfolk Southern (NSC) to Buy; The Beauty of Low Expectations

UPDATE - UBS upgraded Norfolk Southern (NYSE: NSC) from Neutral to Buy. PT raised from $81 to $92.

UBS analyst said, "We are upgrading NSC based on our belief that the company has momentum in several key areas that could set the stage for above-market returns in 2012. Despite three straight blowout quarterly earnings results in 2011, the shares are exactly where they were back in late April last year—only now they’re 25% cheaper."

"...While export coal is certainly a risk in 2012, we think Norfolk’s earnings exposure to the commodity is likely exaggerated in terms of market perception. Even if export volumes fall, pricing is unlikely to follow, in our view."

To see more ratings on NSC, Click Here

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