Norfolk Southern price target lowered to $240 from $250 at BMO Capital

BMO Capital analyst Fadi Chamoun lowered the firm’s price target on Norfolk Southern to $240 from $250 and keeps a Market Perform rating on the shares. The company’s Q1 core results were generally in line with expectations, though with service levels expected to remain challenged through Q2 and competitive intensity from trucking likely to persist well into late this year, Norfolk Southern may not regain earnings momentum until Q2 of FY24, the analyst tells investors in a research note.