UPDATE: Credit Suisse Upgrades CSX Corporation to Outperform, Raises PT on Strong Pricing Outlook

In a report published Thursday, Credit Suisse analyst Allison M. Landry upgraded the rating on

from Neutral to Outperform, and raised the price target from $33.00 to $38.00. In the report, Credit Suisse noted, “We are upgrading our investment opinion on CSX to Outperform from Neutral. Our DCF-derived target price increases to $38 (from $33) due to higher base year EBIT and a faster 3-5 year EBIT growth rate, which leaves ~15% upside. We have raised our FY14 EPS estimate to $1.92 from $1.87, while our FY15 and FY16 EPS forecasts increase to $2.20 and $2.48, from $2.10 and $2.38, respectively.” CSX Corporation closed on Wednesday at $32.98.