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

By Austin Angelo

In a report released yesterday, Allison Poliniak from Wells Fargo maintained a Buy rating on Norfolk Southern (NSCResearch Report). The company’s shares closed last Tuesday at $214.98, close to its 52-week high of $224.99.

According to TipRanks.com, Poliniak is a 5-star analyst with an average return of 17.4% and a 70.1% success rate. Poliniak covers the Industrial Goods sector, focusing on stocks such as Westinghouse Air Brake Technologies, Expeditors International, and John Bean Technologies.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Norfolk Southern with a $221.20 average price target, implying a 1.9% upside from current levels. In a report issued on September 30, UBS also maintained a Buy rating on the stock with a $250.00 price target.

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Norfolk Southern’s market cap is currently $55.71B and has a P/E ratio of 27.00. The company has a Price to Book ratio of 3.73.

Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NSC in relation to earlier this year.

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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. The company transports overseas freight through several Atlantic and Gulf Coast ports. It offers the extensive intermodal network in the eastern half of the United States and is a transporter of coal, automotive, and industrial products. The company’s services include property leases and sales; wire line or pipeline and fiber optics projects; access property; manage private crossings, promote business with signboards, and natural resource management. Norfolk Southern was founded on July 23, 1980 and is headquartered in Norfolk, VA.