BMO Capital analyst Fadi Chamoun raised the firm’s price target on Norfolk Southern to $250 from $245 but keeps a Market Perform rating on the shares. The company’s Q4 results were "largely in line", and its management suggested that it will be challenging to grow EBIT in F2023, the analyst tells investors in a research note. While service levels have improved and volume trends so far this year are better than expected, cyclical headwinds remain elevated, leaving risk-reward on the stock more balanced at current valuation levels, the firm added.
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Published first on TheFly
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- Norfolk Southern price target lowered to $270 from $280 at Benchmark
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