Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Norfolk Southern service challenges 'an increasing risk' - BofA

EditorAmbhini Aishwarya
Published 02/10/2023, 14:10
© Reuters.
NSC
-

Norfolk Southern (NYSE:NSC) was downgraded to Neutral from Buy, with a new price target of $215, down from $266 per share in a note Monday.

Analysts told investors that the service faces challenges while the company's costs are too high.

"NSC experienced a data center outage Friday (Sep 29) evening, which suspended its dispatching, train starts, and terminal operating systems until Sep 30 morning," the analysts explained.

They added that the company expects to see service impacts to its operations over the next two weeks as it works to mitigate congestion caused by the outage. In addition, it follows a similar outage on August 28.

"We believe this is an increasing risk to future earnings as a lack of service consistency could lead to share loss and challenged pricing gains," the analysts said.

They also noted that they expect negative leverage as well as increased fuel costs to lead to lower margins.

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.