Argus lowered the firm’s price target on CSX (CSX) to $32 from $39 and keeps a Buy rating on the shares after its Q1 earnings miss. Severe weather and a track improvement project impacted the company’s ability to provide efficient service this quarter, but the firm sees long-term opportunities for CSX amid track improvements that should increase revenue and operating efficiencies for the network as well as benefits from increased U.S. manufacturing, the analyst tells investors in a research note.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CSX:
- CSX Corporation’s Earnings Call: Challenges and Opportunities
- CSX price target lowered to $35 from $36 at BMO Capital
- CSX price target lowered to $30 from $31 at RBC Capital
- Positive Outlook for CSX: Buy Rating Amid Temporary Challenges and Strategic Turnaround
- CSX price target lowered to $31 from $32 at Bernstein