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NSC

Norfolk Southern

$188.85

2.68 (1.44%)

08:03
10/23/19
10/23
08:03
10/23/19
08:03

Norfolk Southern CEO says 'achieved a record third-quarter operating ratio'

"Our team achieved a record third-quarter operating ratio while successfully rolling out the first phase of our TOP21 operating plan, followed by the swift transition to the plan's second phase. These efforts produced an 11% reduction in crew starts and recrews compared to the third-quarter last year, robustly outpacing the 6% volume decline while maintaining resilient service that supported an 11th consecutive quarter of year-over-year revenue per unit growth," said James Squires, Norfolk Southern chairman, president and CEO. "Initiatives to reimagine mechanical operations while maintaining a more efficient fleet of locomotives and railcars also progressed, as these and other efforts delivered significant cost savings this quarter. Looking ahead, additional productivity will be generated as we advance to the third phase of TOP21 and execute initiatives surrounding fuel efficiency, distributed power, intermodal operations, and our mechanical network, just to name a few. Norfolk Southern remains fully dedicated to our strategic plan for the creation of shareholder value through sweeping productivity improvements while maintaining a superior service product for our customers."

  • 23

    Oct

NSC Norfolk Southern
$188.85

2.68 (1.44%)

07/10/19
GSCO
07/10/19
INITIATION
Target $237
GSCO
Conviction Buy
Norfolk Southern initiated with a Conviction Buy at Goldman Sachs
Goldman Sachs analyst Jordan Alliger started Norfolk Southern with a Buy rating and added the shares to the firm's Americas Conviction List. Alliger put a $237 price target on the shares. Norfolk shares still offer upside in the context of the company's recent PSR implementation, the analyst tells investors in a research note. He believes the company remains the rail with the most to gain from PSR in terms of moving its operating ratio closer to current industry norms.
07/17/19
07/17/19
DOWNGRADE

Norfolk Southern downgraded to Hold from Buy at Cascend Securities
07/17/19
CSND
07/17/19
DOWNGRADE
CSND
Hold
Cascend downgrades four rails on weakening intermodal traffic
Cascend Securities downgraded four names in the rail space, CSX (CSX), Norfolk Southern (NSC), Kansas City Southern (KSU), and Union Pacific (UNP), to Hold after three years at Buy. Intermodal traffic is down since February, and it doesn't look like a "pause," Cascend tells investors in a research note. Further, industrial equipment imports into the U.S. has suddenly declined sharply, adds the firm, which notes that CSX last night called the economic backdrop "puzzling."
10/04/19
JPMS
10/04/19
NO CHANGE
JPMS
JPMorgan downgrades CSX and Echo Global, upgrades Hub Group
JPMorgan analyst Brian Ossenbeck downgraded both CSX (CSX) and Echo Global (ECHO) to Neutral from Overweight while upgrading Hub Group (HUBG) to Overweight from Neutral. The analyst sees downside risk to 2020 consensus estimates across the Transportation & Logistics sector. However, the truckload carriers should navigate the revisions well as the full truckload rate cycle gains momentum with help from the full implementation of electronic logging devices in mid-December, Ossenbeck tells investors in a research note. His upgrade of Hub Group to Overweight reflects his preference to add full truckload rate exposure at a "reasonable valuation." Further, the company's diverse business model should continue beating expectations in 2020, contends the analyst, who notes that Hub is now his top SMID cap idea. Ossenbeck's downgrade of Echo is based on expectations for continued margin compression in 2020 from its increasing tech investments and narrowing contract/spot spreads. His downgrade of CSX is based on valuation after the company's "tremendous run." The analyst's top rail pick remains Norfolk Southern (NSC).

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