Wall Street gets bullish railroads on Monday, especially this one in particular

Analysts on Wall Street are bullish on are bullish on a swath of railroad stocks, but one in particular stands out. Wells Fargo upgraded Norfolk Southern stock to overweight on Monday, with a $250 per share price target. That equates to about 15% upside compared to a $217.74 per share close on Friday. So far this year, shares of Norfolk are under pressure with a loss of nearly 12%. Shares rose 1.5% in premarket trading. NSC YTD mountain Norfolk Southern stock.

Citi now has a buy rating on Norfolk stock with a $257 per share price target, or 18% upside. Wells Fargo analyst Allison Poliniak-Cusic said that while the company previously faced challenges including a difficult outlook picture as well as an impractical cost structure, Norfolk is moving in the right direction, especially because the company is relatively cheap compared its broader sector.

Source: News Formal (newsformal.com)

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