Norfolk Southern Receives Rating Upgrade (NSC)

J.P. Morgan has a positive outlook about Norfolk Southern NSC. In a recent report, J.P. Morgan (JPM) has stated that the company’s relative stronger leverage to coal and intermodal is attractive. It also said that the outlook for coal is improving. Coal stockpiles have fallen 5.2% from January 2010 to May 2010. It also states that relative to other US rails, Norfolk Southern (NSC) was less aggressive in layoffs in 2009, thus it is likely to show a modest increase in headcount in 2010/2011. Norfolk Southern has been given a rating upgrade from Neutral to Overweight with a price target of $68.