(The following report appeared at NewRatings.com on January 20.)
NEW YORK — Analyst Rick Paterson of UBS downgrades Norfolk Southern from “buy” to “neutral.” The target price has been raised from $25 to $26.
In a research note published this morning, the analyst mentions that Norfolk Southern has consistently outpaced its peers in the transportation sector with its robust operating performance in the recent past. However, the current valuation of the company’s stock is unattractive, following its sharp share price rally since October 2003, UBS says.