Norfolk Southern price target raised to $350 from $300 at Jefferies

Jefferies raised the firm’s price target on Norfolk Southern (NSC) to $350 from $300 and keeps a Hold rating on the shares. In an environment where investors are increasingly focused on business models vulnerable to AI-driven disruption, the firm views transportation physical networks as “core HALO exposures,” or Heavy Assets with Low Obsolescence, where value is derived “not just from software or labor inputs, but from long-lived infrastructure that is capital intensive, regulated, and effectively impossible to rebuild from scratch,” the analyst tells investors. Against this backdrop, the firm is raising price targets across its physical asset transportation stocks.