UBS Bumps Up Price Target For Two Railroad Companies

UBS analyst Thomas Wadewitz raised Norfolk Southern Corp's NSC price target to $343 (an upside of 19.6%) from $320 and maintained a Buy rating on the shares as part of a broader research note on U.S. Transportation.
Wadewitz notes that as inventory builds up on the West Coast and as port fluidity continues to deteriorate, rail and intermodal are "winners in a supply chain loosening scenario."
Wadewitz raised the price target on CSX Corp CSX to $42 (an upside of 16%) from $39 and maintained a Buy rating on the shares.
Recently, CSX's price target was raised by BMO Capital analyst Fadi Chamoun to $41 (an upside of 13.2%) from $40, and Outperform rating was maintained on the shares.
The analyst said that the company is executing better than peers on both operational and commercial fronts and should experience well above historical average volume growth going forward.
Price Action: NSC shares are trading higher by 1.01% at $286.61 and CSX higher by 0.81% at $36.21 on the last check Wednesday.

Analyst Calendar