Scotiabank Believes Norfolk Southern (NYSE: NSC) Still Has Room to Grow

By Jason Carr

Scotiabank analyst Turan Quettawala reiterated a Buy rating on Norfolk Southern (NYSE: NSC) on July 3 and set a price target of $168. The company’s shares closed on Tuesday at $150.93, close to its 52-week high of $158.58.

Quettawala has an average return of 1.4% when recommending Norfolk Southern.

According to TipRanks.com, Quettawala is ranked #2856 out of 4826 analysts.

Norfolk Southern has an analyst consensus of Moderate Buy, with a price target consensus of $160, representing a 6.0% upside. In a report issued on June 25, Citigroup also upgraded the stock to Buy with a $176 price target.

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Based on Norfolk Southern’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.72 billion and net profit of $551 million. In comparison, last year the company earned revenue of $2.64 billion and had a net profit of $496 million.

Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2018, Cynthia Earhart, the EVP & CFO of NSC sold 6,588 shares for a total of $994,325.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Norfolk Southern Corp. is a transportation company, which owns a freight railroad. It engages in the rail transportation of raw materials, intermediate products, and finished goods primarily in the Southeast, East, and Midwest and, via interchange with rail carriers, to and from the rest of the United States.