Norfolk Southern Stock Downgraded: BofA Flags Increasing Concerns Over Data Integrity and Operational Setbacks
Portfolio Pulse from Shivani Kumaresan
BofA Securities analyst Ken Hoexter downgraded Norfolk Southern Corporation (NYSE:NSC) from Buy to Neutral and lowered the price target from $266 to $215 due to concerns over data integrity and operational setbacks. The company experienced a data center outage on Sept 29, which is expected to impact operations over the next two weeks. This follows a similar outage in August. The analyst also lowered FY 23/’24/’25 EPS estimate 6%/7%/6%, to $11.90/$13.00 /$14.50, from $12.60/$14.00/$15.45.
October 02, 2023 | 5:30 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Norfolk Southern Corporation's stock has been downgraded by BofA Securities due to concerns over data integrity and operational setbacks. The price target has been lowered from $266 to $215.
The downgrade by BofA Securities is due to increasing concerns over Norfolk Southern Corporation's data integrity and operational setbacks. These issues are expected to impact the company's operations over the next two weeks and potentially lead to share loss. The analyst also lowered the EPS estimate for the next three years, indicating a negative outlook for the company's earnings.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100