- CSX Corp's (NASDAQ:CSX) price target has been raised by two analysts post Q1 results.
- Raymond James analyst Patrick Tyler Brown raised CSX’s price target to $40 (an upside of 10%) from $39 while maintaining the Outperform rating on the shares.
- The analyst states that CSX continues to execute its PSR initiatives to drive operational improvement, translating to more substantial revenues, margin, EPS, & FCF gains in coming years.
- Brown is encouraged by CSX’s commitment to adding key resources (T&E employees) to turn the tide on service for the better.
- The analyst believes combining improved service with a unique internal (industrial development) & external (M&A) growth strategy could open up growth conduits and market share opportunities over time, ultimately driving earnings and FCF longer term – possibly stronger than currently anticipated.
- Susquehanna analyst Bascome Majors raised the price target to $45 (an upside of 24%) from $44 while maintaining a Positive rating on the shares.
- Price Action: CSX shares are trading higher by 2.9% at $36.33 on the last check Thursday.
