Norfolk Southern price target raised to $305 from $288 at Citi

Citi raised the firm’s price target on Norfolk Southern (NSC) to $305 from $288 and keeps a Neutral rating on the shares following the announced takeover by Union Pacific (UNP). The firm sees the appeal of a transcontinental railroad, but believes the transaction is likely to face “fierce pushback.” Citi believes both stocks could trade sideways as investors contemplate the likelihood of regulatory approval and potential conditions that could be required.