Sterne Agee Reiterates Buy Rating on CSX Corporation on Possible Coal Weakness Bottoming
In a report published Monday, Sterne Agee analyst Jeffrey A. Kauffman reiterated a Buy rating and $27.00 price target on CSX Corporation (NYSE: CSX).
In the report, Kauffman noted, “Following presentations by CSX late last week and discussions with our own Coal team at Sterne, we are of the view that the weakness in Eastern Utility Coal Markets could be bottoming - a positive development for both railroads. Furthermore, accelerating growth in Crude-by-Rail is stemming more and more of this weakness, and should garner more attention in 2H13.”
CSX Corporation closed on Friday at $24.02.
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