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In a report published Thursday, RBC Capital Markets analyst Walter Spracklin downgraded the rating on
CSX CorporationCSX from Outperform to Sector Perform, and lowered the price target from $31.00 to $28.00.
In the report, RBC Capital Markets noted, “We are downgrading CSX as negative trends in a number of key areas (notably core pricing and coal volumes) are likely to result in lower than expected earnings growth and EPS that is below both guidance and consensus estimates. Accordingly, we see few catalysts for further multiple expansion and we are downgrading to Sector Perform (from Outperform).”
CSX Corporation closed on Wednesday at $25.89.
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