Norfolk Southern Downgraded at Jefferies (NSC)
Controller of Norfolk Southern Railway, Norfolk Southern Corp.(NSC) has been downgraded by Jefferies & Co. on Thursday.
The firm reported that they have given the company a “Hold” rating and a $70 price target. This price target suggests a 9% increase from the stock’s current price of $63.58.
Analysts reported that they have lowered their rating based on volatility.
Norfolk Southern shares were mostly flat during Thursday morning trading. The stock has dropped -13% in the past year.
The Bottom Line
Shares of Norfolk Southern (NSC) have a 3.16% dividend yield, based on last night’s closing stock price of $63.29. The stock has technical support in the $59-$60 price area. If the shares can firm up, we see overhead resistance around the $65-$68 price levels.
Norfolk Southern Corp.(NSC) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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