| 2016-10-12 09:22:03|
NSC 09:22 10/12 10/12/16
Norfolk Southern downgraded to Underperform at Avondale
As previously reported, Avondale downgraded Norfolk Southern to Underperform from Market Perform. Analyst Donald Broughton continues to believe volumes will continue to decline, yields will continue to disappoint, cost savings will be increasingly harder to achieve, ROIC will continue to deteriorate, and the combination of those factors should result in FY17 earnings below FY16, pressuring valuation.