Jefferies Raises Price Target on CSX Corp. (CSX)
Jefferies reported on Monday that they have increased their price target on railroad operator CSX Corporation (CSX).
The firm maintained its “Buy” rating on CSX and raised its price target on the company from $25 to $29. This price target suggests a 23% increase from the stock’s current price of $22.24.
An analyst from the firm noted, “…we raised our target for CSX to $29 (30% upside). The work in this morning’s 80+ page report, Jefferies’ Second Annual Coal Primer for Transport Analysts gives us increased comfort that market fears over CSX’s earnings risk from coal should fade in 2013. This yields a troughlike multiple on trough-like EPS.”
CSX shares were mostly flat during Monday morning trading. The stock has declined -2% in the past year.
The Bottom Line
Shares of CSX Corporation(CSX) have a 2.52% yield, based on Friday’s closing stock price of $22.24.
CSX Corporation(CSX) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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