© Reuters Today’s most important declines
By David Kirakosyan
Keurig Dr Pepper Inc (NASDAQ: ) shares fell 3.5% today from Buy to Neutral from Goldman Sachs (NYSE: ) and lowered their price target to $37.00 from $39.00. Analysts now see a more balanced risk/reward, given that they expect penetration of the beer family to begin to normalize, pod prices to moderate and the company’s bottled beverage business growth and market share to begin to slow in this area.
CSX Corporation (NASDAQ:) and Norfolk South Corp. (NYSE: ) from Buy to Neutral and cut the price target to $31 (from $38) and $229 (from $282). According to the analysts, consensus 2023 estimates look too high for US railroads, with a declining macro backdrop, and expect downward revisions to industry-related and intermodal volume estimates in the near term.