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Upgrade Alert for Norfolk Southern (NSC)

By Nick Russo

Norfolk Southern (NYSE:NSC) was upgraded from Neutral to Buy at BofA/Merrill today. The stock closed yesterday at $94.67 on volume of 3.0 million shares, above average daily volume of 1.9 million.

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 (NYSE:NSC) is currently priced 5.6% 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.

Over the past year, Norfolk Southern has traded in a range of $64.51 to $104.58 and closed yesterday at $94.67, 47% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.5%.

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 8.5%. 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

Ticker(s): NSC