BofA raised the firm’s price target on Norfolk Southern (NSC) to $290 from $280 and keeps a Buy rating on the shares. Norfolk Southern’s Q2 volumes trended below BofA’s prior target, mainly driven by slower Intermodal growth, which was driven by by tariff-related slowdowns and domestic parcel weakness, the analyst tells investors in a research note. The firm expects Norfolk Southern to outperform its typical Q1-Q2 operating ratio improvement.
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