Norfolk Southern inches down after Citi cuts to 'neutral' on valuation

Shares of U.S. rail road operator Norfolk Southern NSC.N falls nearly 1% to $260, in premarket

Citi downgrades co to 'neutral' from 'buy', but lifts PT to $288 from $259, an upside of 10.3% to the stock's last close

Says downgrading NSC mainly due to high valuation of share prices after a strong rally

Further says co has made solid operational progress, but believes margin gains will take more time and are largely tied to a broader economic recovery

15 of 28 brokerages rate the stock "buy" or higher, 12 "hold" and 1 "sell"; their median PT is $265- data compiled by LSEG

As of last close, stock had risen 11.3% YTD