Analysts Lift Rail, Tech Targets After Strong Prints

Earnings season is driving a wave of target price upgrades across US equities, with railroads and enterprise software leading the activity this week.

Both NSC Norfolk Southern and CSX received consensus target lifts, with Norfolk Southern's average target rising to $358.89 from $356.89. Analysts are turning more constructive on rail freight after recent volume data held up better than feared.

NDAQ Nasdaq Inc. drew a target increase to $113.56 from $112.00. The exchange operator has benefited from elevated trading volumes and strong technology services growth.

In enterprise software, NOW ServiceNow climbed to a consensus target of $156.54, up from $154.80. DDOG Datadog also saw a small target nudge higher to $292.99 as cloud monitoring demand stays firm.

Not all moves went upward. WDC Western Digital saw its consensus target trimmed to $642.75 from $650.88. HON Honeywell slipped to $254.04 from $255.09. PHM PulteGroup's target fell to $133.59 from $135.35, reflecting lingering caution on housing affordability.

PG Procter and Gamble bucked the consumer staples gloom. Its consensus target rose to $169.57, up from $166.52, after quarterly results showed resilient volume trends in key markets. UK retail sales volume hit its highest September reading in four years, according to ORTEX Alt Data, which may support consumer-facing names more broadly into year-end.