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NSC

Norfolk Southern Corporation

NYSE: NSC · INDUSTRIALS · RAILROADS

$315.83
+1.19% today

Updated 2026-04-30

Market cap
$70.93B
P/E ratio
26.63
P/S ratio
5.82x
EPS (TTM)
$11.86
Dividend yield
1.73%
52W range
$215 – $323
Volume
1.4M
OverviewPrice TargetsFinancialsValuationInsidersEarnings

Norfolk Southern Corporation (NSC) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

Price target summary

Current
$315.83
Consensus
$299.56
-5.15%
2030 Target
$806.40
+155.33%
DCF
—
—
17 analysts:
5 Buy12 Hold0 Sell

Management guidance

No specific CEO revenue targets disclosed in available research. Management emphasized cost control, operational discipline, and strategic partnerships (Jaguar Transport, CMA CGM intermodal service) to drive incremental growth, but did not provide explicit 2026-2030 revenue guidance or growth rate targets.

Sources: Management guidance, analyst consensus, sector analysishigh confidence

Revenue & price projection

Actual revenue Projected revenue Base case Bull to bear range
Bull case (2030)
$1,324.80
$14.8B Rev × 20x P/S
Base case (2030)
$806.40
$14.8B Rev × 12x P/S
Bear case (2030)
$518.40
$14.8B Rev × 8x P/S

Financial forecast — research-backed

Metric2023202420252026 (E)2027 (E)2028 (E)2029 (E)2030 (E)
Revenue$12.2B$12.1B$12.2B$12.6B$13.2B$13.8B$14.3B$14.8B
Revenue growth—-0.3%0.5%3.3%4.8%4.5%4.0%3.6%
EPS$11.75$12.64$12.50$12.23$13.66$14.50$15.10$15.65
P/S ratio———12.0x12.0x12.0x12.0x12.0x
Implied price———$662.40$691.20$748.80$777.60$806.40

Catalysts & risks

Growth catalysts
+ Union Pacific-Norfolk Southern $85B merger (pending regulatory approval; could unlock significant synergies and market share gains)
+ Short-line partnership expansion (Jaguar Transport Doraville terminal, CMA CGM intermodal service) to improve first/final-mile service and capture additional volume
+ Mercedes-Benz $4B investment in Norfolk Southern-served plant (incremental automotive and intermodal revenue opportunity)
+ Locomotive modernization and network infrastructure upgrades to improve capacity and operational efficiency
+ $7.7B in industrial development activity catalyzed by Norfolk Southern's network in 2025 (indicates strong demand momentum)
Key risks
- Regulatory uncertainty on UP-NS merger; antitrust scrutiny could delay or block combination, limiting synergy upside
- Muted economic environment and weak freight volumes (Q4 2025 revenue down 1.65% YoY; full-year 2025 growth only 0.47%)
- Rising fuel costs and inflationary pressures on operating expenses, constraining margin expansion
- Intermodal service competition and pricing pressure from trucking and alternative logistics providers
- Weak coal volumes and secular decline in legacy rail commodities; dependency on discretionary freight (automotive, industrial)

Methodology

Norfolk Southern Corporation's forward estimates are derived from AI-powered research synthesis combining analyst consensus from 17 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.

WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 7, 2026.