We Raise Our Fair Value for Norfolk Southern Incorporating Annual Report and Solid January
We increased our Norfolk Southern fair value estimate to $109 from $104 per share after incorporating both full 2016 financial details from the firm’s 10-K filed this week, and our increased near-term volume expectations based on the January continuation of fourth-quarter improvements. We hold fast our expectation that the firm can reach a 65% operating ratio by 2020, and maintain our wide economic moat rating.ÂWe still believe coal is in a secular decline at the rails, but based on recent resu...
Norfolk Southern is a holding company. Through its subsidiaries, the company is engaged in the rail transportation of raw materials, intermediate products, and finished goods primarily in the Southeast, East, and Midwest and, via interchange with rail carriers, to and from the rest of the United States. The company also transports overseas freight through several Atlantic and Gulf Coast ports. The company provides intermodal network in the eastern half of the United States. The company's railroad operates in several states and the District of Columbia. The company's system reaches manufacturing plants, electric generating facilities, mines, distribution centers, transload facilities, and other businesses in its service area.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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