Norfolk Southern Corp. (NYSE: NSC) Receives Price Target Increase at Citigroup Inc.

Norfolk Southern Corp. (NYSE: NSC) had its price target raised by equities researchers at Citigroup Inc. from $87.00 to $97.00. The company currently has a rating of Neutral on the stock. A number of other analysts have commented on the stock in recent days, and the company has earned a consensus one-year price target of $92.05, higher than the opening price of $91.44, a difference of 10.14 percent. Norfolk Southern Corp. stock has a 52-week high of $98.75.

U.S. stocks finished sharply lower on Tuesday as equities amid a slump in energy shares and continued uncertainty about the Federal Reserve’s plans for monetary policy.

The Dow Jones Industrial Average DJIA, -1.41% closed 258.05 points, or 1.4%, lower at 18,066.89, and was down nearly 300 points at its lowest.

The S&P 500 index SPX, -1.48% gave up 32.02 points, or 1.5%, at 2,127.02.

Meanwhile, the Nasdaq Composite Index COMP, -1.09% fell 56.63 points, or 1.1%, at 5,155.25.

Usually, after analysts publish an “initiating coverage” report on a stock, they will subsequently issue periodic updates.

Shares of Norfolk Southern Corp. (NYSE: NSC) opened at $91.44 yesterday and traded in a range between, $90.30 and $92.12, and last traded at $90.74, which represents a change of $ -1.64 over the previous closing price.

Norfolk Southern Corp. (NYSE: NSC) now has a market cap of 26.64B

The stocks average daily volume is 1,438,010 shares out of a total float 292,660,000 and some 1,102,326 shares crossed the trading desk yesterday, 0 percent lower than normal. Look for trading volume to pick up in the coming days as swing traders often use upticks in trading volume to identify heavy volume accumulation or distribution by institutional investors.

However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.

Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.

Professional investors such as these retain substantial teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.

By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.

With that in mind Norfolk Southern Corp. (NYSE: NSC) now has a 50-day MA is $91.05 and 200-day MA is $86.16, and it has traded in a 52-week range between $64.51 – 98.75 and today’s last price is -8.11 percent off the 52 week high of $98.75.

Earnings growth is an important factor toresearch when investing in stocks and investors look for companies that have grown their earnings at least 25% or more for the past 3 years.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of BNB Daily News. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.

Add a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.