RBC Capital analyst Walter Spracklin lowered the firm’s price target on Norfolk Southern to $244 from $253 and keeps a Sector Perform rating on the shares. The company’s Q4 results were "softish", and the cautious outlooks have not been well-received by the market for all rails reporting to date, the analyst tells investors in a research note. While Norfolk Southern guidance may have embedded potential embedded conservatism, RBC Capital is cutting its FY23 EPS view to $14.00 from $14.51 and its FY24 view to $15.26 from $15.79, the firm adds.
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Published first on TheFly
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