Norfolk Southern price target raised to $244 from $233 at Stifel

Stifel raised the firm’s price target on Norfolk Southern to $244 from $233 and keeps a Hold rating on the shares. The first quarter is usually the most challenging quarter of the year for the rails and “this year is unlikely to be an exception” despite healthy intermodal volumes and generally mild winter conditions, the analyst tells investors in an earnings preview for the group. While the firm expects the Class 1 rail operators to realize earnings growth this year and next, it sees the growth coming at “a lower pace than is currently reflected in consensus numbers,” the analyst added.