Jefferies Upgrades Norfolk Southern (NSC) to Buy; Trough-Like Multiple and EPS

Jefferies upgraded Norfolk Southern (NYSE: NSC) from Hold to Buy with a price target of $86.00 (from $74.00).

The firm comments, "The work in our 80+ page report out this morning, Jefferies' Second Annual Coal Primer for Transport Analysts, gives us increased comfort that the market's heightened fears over NSC's earnings risk from coal should fade in 2013. This yields a trough-like multiple on trough-like EPS."

For an analyst ratings summary and ratings history on Norfolk Southern click here. For more ratings news on Norfolk Southern click here.

Shares of Norfolk Southern closed at $69.69 yesterday.

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