Norfolk Southern price target lowered to $275 from $285 at Credit Suisse

Credit Suisse analyst Ariel Rosa lowered the firm’s price target on Norfolk Southern to $275 from $285 and keeps an Outperform rating on the shares following quarterly results. After spending much of the past year struggling with network fluidity, Norfolk Southern noted that service levels in December were the best they have been in more than two years. While the firm views this as an important step in easing regulatory pressure and friction with customers, it drove a step-up in costs, with operating expenses up 17% year-over-year.