Jefferies cuts Norfolk Southern PT on weak intermodal volumes

Jefferies slashes PT on U.S. railroad operator Norfolk Southern NSC.N to $310 from $350, reiterates rating at "hold"

New PT still implies an upside of 7.6% to stock's last close

NSC up nearly 1% at about $290

Brokerage says NSC's overall carloads slightly down from a year earlier; intermodal volumes weaker than expected, limiting revenue momentum

Adds higher fuel costs, inflation and lower land-sale contributions expected to offset productivity gains, pushing costs up and worsening the operating ratio

Cuts 2026 EPS forecast to $11.45 from $12.20

6 of 23 brokerages rate stock "buy" or higher, 17 "hold"; median PT is $313.50 - data compiled by LSEG

Including session's moves, NSC up 0.3% YTD