UPDATE: Jefferies Reiterates Buy Rating, Raises PT on CSX Corporation

In a report published Monday, Jefferies reiterated its Buy rating on CSX Corporation

, and raised its price target from $25.00 to $29.00. Jefferies 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 Corporation closed on Friday at $22.24.