Barclays analyst Brandon Oglenski says the CEO change “caps an eventful year” for Norfolk Southern following an earlier proxy contest. While new CEO Mark George does not have railroad operating experience, stability and continuity in the C-suite “is likely desired at this time in Norfolk’s transformation as network service improves,” the analyst tells investors in a research note. The firm keeps an Overweight rating on the shares with a $275 price target.
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Read More on NSC:
- Norfolk Southern Dismisses CEO on Alleged Relationship with Legal Head
- Norfolk Southern Board of Directors Appoints Mark R. George President and Chief Executive Officer Through Unanimous Vote of Independent Directors
- Norfolk Southern names Mark George as new CEO; affirms FY24 guidance
- Norfolk negotiating CEO Shaw’s exit, already mulling interim CEO, Reuters says
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