Norfolk Southern price target lowered to $316 from $331 at JPMorgan

JPMorgan lowered the firm's price target on Norfolk Southern to $316 from $331 and keeps a Neutral rating on the shares. The firm is updating estimates as part of its Q2 earnings preview for the transportation and logistics group. The firm's estimates and price targets have "mostly modestly increased across the board," driven by higher 2027 forecasts to reflect a better pricing environment for freight and a healthy, resilient consumer, though it remains generally cautious on the near-term risk/reward for most stocks in the group as correction concerns become more prevalent, the analyst tells investors.