Bullis Calls on FedEx and Norfolk Southern at Jefferies

TheStreet

It's Monday, June 30th and Jefferies is making some bullish calls on transportation stocks. Jefferies is starting coverage of DaVita Healthcare Partners (DVA). The firm set a 'Buy' Rating and an $86 price target on the shares. Transport stocks are getting a lift today including FedEx (FDX) and Northfolk Southern (NSC). Norfolk Southern was upgraded to an 'outperform' from 'neutral' at Barclays. This follows upgrades for Norfolk Southern just a week ago from both JPMorgan and Bank of America. FedEx is also getting a boost from Oppenheimer. The firm says despite the recent run-up after strong earnings, they continue to view Norfolk's risk/reward profile favorably. TheStreet's Susannah Lee reports from Wall Street.