We recently published 10 Stocks on Jim Cramer’s Radar. Norfolk Southern Corporation (NYSE:NSC) is one of the stocks that’s on Jim Cramer’s radar.
Shares of railroad giant Norfolk Southern Corporation (NYSE:NSC) are up 23.6% over the past year and 10% so far this year. The company’s latest earnings results saw it report $3.22 in adjusted earnings per share, marking growth from the prior year’s figures of $3.04. However, Norfolk Southern Corporation’s (NYSE:NSC) revenue of $3 billion was a 2% year-over-year decline. Following the earnings report, Baird discussed the railroad company’s stock. He lowered his price target on the stock to $288 from $293 and maintained a Neutral rating on the stock as part of a model update. Cramer spoke regularly about the company last year when Norfolk Southern Corporation (NYSE:NSC) and Union Pacific announced they were merging. More recently, Deutsche Bank downgraded the stock to Hold from Buy due to the planned merger. Norfolk Southern Corporation (NYSE:NSC) had already warned that it could experience fluctuations in its revenue due to the impact of the deal on the rail industry. In this appearance, although Cramer did not mention Deutsche Bank, he did comment that a downgrade was not appropriate:
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“My God, CSX, it’s interesting, someone demoted Norfolk Southern, that person was not advised.”
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Disclosure: None. This article was originally published in Internal jumpsuit.