Bernstein analyst David Vernon maintained a Hold rating on CSX (CSX – Research Report) today and set a price target of $31.00.
David Vernon has given his Hold rating due to a combination of factors affecting CSX’s performance. The company reported a significant earnings miss in the first quarter, primarily due to network challenges and adverse weather conditions. These operational disruptions are expected to persist, impacting the company’s ability to improve its financial performance in the near term.
Additionally, CSX faces ongoing challenges from commodity headwinds and tariff impacts, which further complicate its recovery prospects. While management anticipates easier comparisons in the latter half of the year, there is limited confidence in achieving profit growth given the current market conditions. As a result, Vernon suggests a cautious approach, recommending a Hold rating as CSX navigates through these transitional challenges.
In another report released today, Wells Fargo also maintained a Hold rating on the stock with a $28.00 price target.
Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CSX in relation to earlier this year.