Jefferies Reiterates Buy Rating, $28 PT on CSX Corporation

In a report published Wednesday, Jefferies & Company reiterated its Buy rating and $28.00 price target on CSX Corporation CSX. Jefferies noted, “CSX posted a clean 2Q beat, including a better-than-expected operating ratio of 68.7% despite domestic coal volumes down 35% YoY. This underscores the point, the rails are not coal stocks. The rails appear to be coming out of a nuclear winter largely intact — passing stress tests that few other industries could survive and underscoring the resilience of these businesses.” CSX Corporation closed on Tuesday at $22.79.