RBC Capital analyst Walter Spracklin lowered the firm’s price target on Norfolk Southern to $210 from $221 and keeps a Sector Perform rating on the shares. The company produced a "low quality" Q1 earnings beat and pulled its FY23 guidance, the analyst tells investors in a research note. RBC adds that it is now assuming a worse-than-feared freight recession while making material reductions to earnings estimates, cutting its FY23 EPS view to $13.47 from $14.00 and FY24 view to $14.47 from $15.26.
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