UPDATE: Bank of America Lowers Price Target on CSX to $26

According to Bank of America, CSX Corp (NYSE: CSX) price target is lowered to $26.

Bank of America said that it is lowering its 2012 and 2013 EPS estimates 5% each, to $1.85 and $2.15, from $1.96 and $2.26, respectively. “We lower our price objective 4%, to $26 from $27, holding our 14x target multiple on our revised 2012 EPS estimate.”

CSX closed on Friday at $23.17.