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Fly News Breaks for November 26, 2018
CSX, NSC
Nov 26, 2018 | 06:29 EDT
Loop Capital analyst Rick Paterson lowered his price target on Norfolk Southern (NSC) to $188, saying that while the company absorbed less impact from the recent hurricane activity than CSX (CSX), the latter also "rebounded quickly and has gone on to set new post-recession records for network train speed." The analyst notes that Norfolk Southern is stuck in a "vicious feedback loop" of slower system velocity made worse by crew shortages. Paterson claims that the rail operator's new precision scheduled railroading, set to be implemented next year, cannot come soon enough, even though he is keeping his Buy rating.