(The following report appeared at NewRatings.com on January 30.)
NEW YORK — Analysts at Prudential Financial downgrade Norfolk Southern (NSC) from “overweight” to “neutral weight.” The target price is set to $23.00.
In a research note published yesterday, the analysts mention that Norfolk Southern reported Q403 EPS significantly ahead of the consensus and the estimates. The company expects healthy revenues in 2004 to be offset by an increase in costs, the analysts add. The downgrade in rating is on account of valuation, Prudential Financial says.