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Fly News Breaks for December 7, 2015
CP, NSC
Dec 7, 2015 | 05:42 EDT
Barclays analyst Brandon Oglenski upgraded Norfolk Southern (NSC) to Equal Weight after the company rejected Canadian Pacific's (CP) takeover proposal. Pressure on management to deliver improved margins could serve as a positive catalyst for shares, Oglenski tells investors in a research note. The analyst sees continued challenges for railroad stocks, however, citing weakening industrial demand, high inventories and low commodity prices. He raised his price target for Norfolk shares to $95 from $76.
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