Norfolk Southern is teaming up with Progress Rail in Albertville to upgrade 96 locomotives with newer AC technology to boost power, reliability, and efficiency.

Norfolk Southern and Albertville-based Progress Rail will convert 96 locomotives to AC technology by 2029, cutting costs and extending fleet life.

Norfolk Southern Corporation is rated Hold with shares trading near fair value at $291 versus a fair price of $293. Read more on NSC stock here.

Norfolk Southern has hired Progress Rail to upgrade 96 of its locomotives to newer 'AC' technology.

At this time, there are no indications of foul play.

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Norfolk Southern Corporation (NSC) looks expensive from a valuation standpoint. Considering the forward 12-month price-to-sales ratio (P/E-F12M), NSC is trading at a premium compared to the industry.

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