RBC Capital Downgrades Norfolk Southern (NSC) to Underperform

RBC Capital downgraded Norfolk Southern (NYSE: NSC) from Sector Perform to Underperform with a price target of $113.00.

Analyst Walter Spracklin comments "Management made significant progress in cost cutting initiatives in 2016. However, our analysis suggests that further efficiency gains will be much harder to attain going forward. With NSC valuation now hitting peak levels, we believe the risks to achieving those targets do not match the upside return."

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 $111.77 yesterday.

You May Also Be Interested In

• BofA Securities Downgrades LENZ Therapeutics Inc (LENZ) to Neutral
• Nomura/Instinet Downgrades Pearl Abyss Corp. (263750:KS) (BRFS) to Neutral
• Vera Therapeutics (VERA) PT Lowered to $80 at Goldman Sachs