Norfolk Southern price target lowered to $247 from $254 at Stifel

Stifel analyst Benjamin Nolan lowered the firm’s price target on Norfolk Southern to $247 from $254 and keeps a Buy rating on the shares. While Q1 intermodal volume was "awful," most other areas were "not that bad," the analyst tells investors. Additionally, diesel prices have come down from previous highs, which should yield lower fuel expenses, but costs, particularly labor, will continue to rise. Stifel expects the next quarter to continue to be choppy, but views valuations of the U.S. rails as relatively attractive.