CSX price target raised to $38 from $36 at BMO Capital

BMO Capital raised the firm’s price target on CSX (CSX) to $38 from $36 and keeps an Outperform rating on the shares. CSX’s Q2 operating results were above expectations on improved network operating momentum, and a favorable near- and medium-term earnings and cash conversion algorithm should be supportive of attractive share price appreciation with potential rail consolidation providing further upside optionality, the analyst tells investors in a research note.