Jefferies Thrilled With CSX (CSX) Q1 Results

April 20, 2011 10:54 AM EDT
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Price: $37.14 -2.49%

Rating Summary:
    16 Buy, 17 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 20 | New: 54
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Jefferies reiterated their Buy rating on CSX (NYSE: CSX) following what they called "strong" Q1 results. The firm also maintained their $82 price target.

"CSX upsided 1Q consensus by $0.02. Quality of earnings was high, as the company beat our revenue and operating income forecasts by $0.03 and $0.04, respectively. Strength was driven by coal yields, up 15.7% YoY. 1Q was our lowest conviction quarter of the year for the rails given weather, fuel, and 1H catch-up costs. Most of these uncertainties appear to be eased on the 1Q print."

For more ratings news on CSX click here and for the rating history of CSX click here.

Shares of CSX are down 3 percent to $73.80 despite the strong results.

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