Norfolk Southern price target lowered to $255 from $265 at BMO Capital

BMO Capital analyst Fadi Chamoun lowered the firm’s price target on Norfolk Southern (NSC) to $255 from $265 and keeps a Market Perform rating on the shares. The company’s Q1 results were slightly better than expectations and underscore strong momentum on the operating side, though on the other hand, comps get tougher as the year progresses, the analyst tells investors in a research note. While management could flex its cost-savings program if demand disappoints, the demand outlook has deteriorated, the firm adds.