Analyst Jason Seidl Reiterates Buy on Norfolk Southern, Raising Price Target to $376 After Strong Q2 and Operational Improvements
Complete. Here is the key summaryTD Cowen analyst Jason Seidl reiterated a Buy rating on Norfolk Southern, raising the price target to $376. This upgrade follows strong Q2 earnings and operational improvements, including new leadership addressing service challenges. Seidl cites robust freight demand and favorable coal trends as drivers for future growth. Wells Fargo also maintained a Buy rating with a $365 target.
In a report released today, Jason Seidl from TD Cowen maintained a Buy rating on Norfolk Southern, with a price target of $376.00.
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Jason Seidl has given his Buy rating due to a combination of factors, starting with Norfolk Southern’s solid second-quarter performance, where earnings and operating metrics surpassed both his own forecasts and broader market expectations. He also raised his price target to $376, reflecting confidence that stronger carload volumes, improving yields, and favorable coal and industrial trends can support further upside.
Moreover, Seidl highlights that management is proactively addressing recent service challenges by installing a new chief operating officer and implementing operational changes that are already improving train velocity and on-time performance. With robust demand anticipated across key freight segments in the second half and ongoing reindustrialization driving incremental volume, he sees a supportive backdrop for margin enhancement and earnings growth, justifying the Buy recommendation.
Seidl covers the Industrials sector, focusing on stocks such as Knight Transportation, Union Pacific, and CH Robinson. According to TipRanks, Seidl has an average return of 27.0% and a 71.22% success rate on recommended stocks.
In another report released today, Wells Fargo also maintained a Buy rating on the stock with a $365.00 price target.