Norfolk Southern: A Steady Quarter, Amid Ongoing M&A Talks

Norfolk Southern Corporation is rated Hold, with shares trading near fair value at $291 versus a fair price of $293. Q4 2025 earnings exceeded expectations, driven by strength in Chemicals, Metals & Construction, and Automotive, though Intermodal and Coal segments declined. The Union Pacific acquisition remains pending Surface Transportation Board approval, with a revised application expected by April 2026 and a targeted close in early 2027.