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.
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