JPMorgan analyst Brian Ossenbeck raised his price target for Norfolk Southern to $214 saying he left the company's investor day more confident its new strategic plan would focus on pursuing specific productivity initiatives. Norfolk's efficiency goals in T&E productivity and train weights represent significant improvements from current levels, Ossenbeck tells investors in a research note titled "Imagine the Possibilities." The analyst remains positive on the stock given his belief that Norfolk Southern's new operating model can support the current 60% operating ratio target in 2021. He keeps an Overweight rating on the shares.

Loop Capital raised the firm's price target on Norfolk Southern to $270 from $261 and keeps a Buy rating on the shares as part of a broader research note on Transportation names. The firm is adjusting its estimates on the stock following its Q1 pre-announcement last week.