UPDATE: Jefferies Cuts Target to $28 on CSX

Jefferies lowers its target price $1 to $28 on Underperform-rated CSX

as it previews the company's Q1. Jefferies says, "Mild weather vs. mild freight volumes are likely to be counterbalancing forces across 1Q transport reports. As such, we see seven beats, two inline reports, and eight misses. A potential 2Q recovery in Asia airfreight volumes remains our favorite investment theme. Near term, we see the biggest EPS beats at KNX and UPS, and the biggest misses at RAIL, HTLD, and CSX." CSX closed at $21.52 a share on