As previously reported, Stifel analyst Michael Baudendistel upgraded Norfolk Southern to Buy from Hold, citing his perception that management appears to have transitioned from being defensive to being open to fresh ideas to move the railroad's operating ratio closer to that of the industry peer average. He believes that Norfolk only needs to get it "half right" for estimates to be proven too low, Baudendistel tells investors. The company is demonstrating considerable improvement in its railway operating and productivity metrics and plans to host an analyst day in Atlanta on February 11, where more detail will be given on changes to the company's operating plan and multi-year financial targets will likely be provided, he added. The analyst raised his price target on Norfolk Southern shares to $189 from $186.