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BofA/Merrill Made the Right Call, Norfolk Southern 0.3% Higher (NSC)

By David Diaz

A week ago, BofA/Merrill upgraded Norfolk Southern from Neutral to Buy. Norfolk Southern stocks closed at $94.98, a 0.3% gain over the course of one week.

Based on a current price of $94.98, Norfolk Southern is currently 5.9% above its average consensus analyst price target of $89.40. Norfolk Southern shares have support at the 50-day moving average (MA) of $82.38 and additional support at the 200-day MA of $81.04.

SmarTrend recommended that subscribers consider buying shares of Norfolk Southern on July 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $88.29. Since that recommendation, shares of Norfolk Southern have risen 7.4%. We continue to monitor NSC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst reflections Norfolk Southern

Ticker(s): NSC