Analysts Lift Railroads, Trim WDC Targets

Analysts pushed targets higher across a broad range of names today, though a notable cut to Western Digital stood out. The consensus target on the storage hardware group fell to $642.75 from $650.88, a $8 trim after a week of mixed signals from memory markets.

The rails drew the most upgrades. Norfolk Southern saw its consensus target rise to $358.89 from $356.89, while CSX edged up to $53.49. Both names benefit from improving freight volumes. Taiwan's September export orders hit a record $114.2bn, the largest September since 1984, which bodes well for goods flows into North American supply chains.

Nasdaq, Inc. got a target lift to $113.56 from $112.00. The exchange group has low short interest at just 1.6% of free float.

Dow Inc. saw its consensus target climb to $34.18 from $33.59. The chemical giant carries 4.5% short interest as a percentage of free float.

Honeywell bucked the trend. Its target slipped to $254.04 from $255.09, a modest cut that signals caution on industrial conglomerate exposure heading into year-end.

PulteGroup also saw a target trim, down to $133.59 from $135.35, reflecting analyst wariness on the US housing outlook as rates stay elevated.