Jefferies cuts Norfolk Southern PT on weak intermodal volumes

Norfolk Southern

06/04/2026 16:47

** Jefferies slashes PT on U.S. railroad operator Norfolk Southern NSC.N to $310 from $350, reiterates rating at "hold"

** New PT still implies an upside of 7.6% to stock's last close

** NSC up nearly 1% at about $290

** Brokerage says NSC's overall carloads slightly down from a year earlier; intermodal volumes weaker than expected, limiting revenue momentum

     ** Adds higher fuel costs, inflation and lower land-sale contributions expected to offset productivity gains, pushing costs up and worsening the operating ratio

** Cuts 2026 EPS forecast to $11.45 from $12.20

** 6 of 23 brokerages rate stock "buy" or higher, 17 "hold"; median PT is $313.50 - data compiled by LSEG

** Including session's moves, NSC up 0.3% YTD

(Reporting by Apratim Sarkar in Bengaluru)

((Apratim.Sarkar@thomsonreuters.com))