UPDATE: Stifel Upgrades Norfolk Southern (NSC) to Buy

(updated to expand analyst comment)

Stifel analyst Michael Baudendistel upgraded Norfolk Southern (NYSE: NSC) from Hold to Buy with a price target of $189.00 (from $186.00).

The analyst comments "We still wonder whether the current management team is one that can produce a CSX-like turnaround, but what has changed in our perception is that management appears to have transitioned from being defensive and highlighting company improvements to being open to fresh ideas and leaving old processes behind. We believe that NSC only needs to get it “half right” for estimates to be proven too low and recent management comments give us greater confidence that such improvement is forthcoming."

For an analyst ratings summary and ratings history on Norfolk Southern click here. For more ratings news on Norfolk Southern click here.

Shares of Norfolk Southern closed at $156.97 yesterday.

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