Downgrade Alert for Norfolk Southern (NSC)
Norfolk Southern (NYSE:NSC) was downgraded from Market Perform to Underperform at Avondale today. The stock closed yesterday at $93.42 on volume of 2.2 million shares, above average daily volume of 1.9 million.
Norfolk Southern (NYSE:NSC) is currently priced 4.3% above its average consensus analyst price target of $89.40. The stock should find initial support at its 50-day moving average (MA) of $82.38 and further support at its 200-day MA of $81.04.
Norfolk Southern Corporation provides rail transportation services. The Company transports 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. Norfolk Southern also transports overseas freight through several Atlantic and Gulf Coast ports
Norfolk Southern share prices have moved between a 52-week high of $104.58 and a 52-week low of $64.51 and closed yesterday at 45% above that low price at $93.42 per share. The 200-day and 50-day moving averages have moved 0.09% higher and 1.45% higher over the past week, respectively.
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 7.2%. We continue to monitor NSC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades Norfolk Southern