Bank of America Merrill Lynch Maintains Buy on Norfolk Southern
Bank of America Merrill Lynch is out with its report today on Norfolk Southern (NYSE: NSC), maintaining Buy.
In a note to clients, Bank of America Merrill Lynch writes, "NS is posting solid double-digit vol growth, which along with its inflation-plus pure pricing and beneficial product mix, is leading to sub-70's op ratio performance. The rails have historically traded between 12.5x-15.5x. NSC's shares are slightly lagging the group and likely to trade toward the upper end of that range as a premiere carrier, leaving upside potential after its year-to-date underperformance."
Deutsche Bank maintains its $77 PO on NSC.
Shares of NSC closed Wednesday at $70.53, down 1.05% from Tuesday's close.
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