Loading...
Loading...
In a report published Wednesday, Bank of America analyst Ken Hoexter reiterated a Buy rating on
CSX CorporationCSX, and raised the price target from $32.00 to $33.00.
In the report, Bank of America noted, “CSX posted solid results despite the weather, and has experienced a robust start to 2Q14, as carloads are up 11% over the past 2 weeks. It posted normalized 1Q14 EPS of $0.38, down 17% year-over-year, in-line with our estimate, and just above consensus' $0.37. Results included an $0.08-$0.09/sh impact from weather, placing adjusted EPS at $0.46-$0.47, just above our pre-weather adjusted $0.43 estimate (reduced on March 12). Results included up to $58 million ($0.03-$0.05/sh) in liquidated damages from coal customers. GAAP EPS of $0.40 included a $0.02/sh tax gain. Total carloads were up 2.7% in 1Q, topping our 1.3% target, while yields fell -1.8%, below our +0.5% target (mainly driven by a -7.6% decline in Coal yields, larger than our -5% target).”
CSX Corporation closed on Tuesday at $28.29.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in