BUZZ-Norfolk Southern Corp: Best day in 5 months

Fri Apr 22, 2016 11:24am EDT
 
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** Railroad operator's shares up about 8.7 pct at $89.87, best day since Canadian Pacific Railway Ltd made its offer in November

** At least 2 brokerages upgrade stock. Credit Suisse raises to "outperform" from "neutral"; UBS to "buy" from "neutral" after earnings handily beat analysts' estimate

** "We have increased confidence in the management team's ability to wring costs out of the network," Credit Suisse analysts write

** At least 9 brokerages raise PTs

** Canadian Pacific abandoned its hostile bid last week

** Up to Thursday's close, Norfolk stock had fallen 21 pct in the past 12 months