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Stock impact report

Bernstein Updates Rail View, Lifts CSX Price Target [Yahoo! Finance]

CSX Corporation (CSX) 
Last csx corporation earnings: 4/22 04:02 pm Check Earnings Report
Company Research Source: Yahoo! Finance
Bernstein Updates Rail View, Lifts CSX Price Target On March 31, Bernstein analyst David Vernon raised the firm's price recommendation on CSX Corporation (NASDAQ:CSX) to $39 from $36. It maintained a Market Perform rating on the shares. The firm said it is updating its view on the rail sector as competition between transport modes and support from commodity trends continue to improve. At the same time, it noted that railroads are not insulated from broader macro risks tied to the Iran conflict. Even so, Bernstein argued that if a severe recession remains a tail risk rather than a base case, there is a case for increasing exposure to rail stocks. A few days earlier, on March 26, RBC Capital Markets raised its price goal on CSX to $43 from $39 and maintained an Outperform rating. The update came as part of a broader preview of Q1 results for Class I railroads. The firm said it is assigning higher valuation multiples to the stock, pointing to signs that the freight environment is st Show less Read more
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