CSX Corp (CSX) Receives Positive Coverage in Barron's
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CSX Corp (NYSE: CSX) is set to open higher on Monday after the company received positive weekend coverage in Barron's. Researchers at the magazine think Wall Street 'missed' when it comes to valuing the stock, and they believe shares could rise as much as 33 percent over the next 12 months.
The bullish thesis centers on the idea that the downturn in coal may have bottomed, and given the railroad's ability to successfully cut costs and maintain relative profitability during lean times, shares might be poised to climb.
The article cites Richard Nackenson, a fund manager at Neuberger Berman. He thinks CSX free cash flow will grow by at least 10% this year, and he also believes the decline in volumes will mitigate.
Shares of CSX last traded at $22.37 in pre-open trade, up 1.9 percent.
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The bullish thesis centers on the idea that the downturn in coal may have bottomed, and given the railroad's ability to successfully cut costs and maintain relative profitability during lean times, shares might be poised to climb.
The article cites Richard Nackenson, a fund manager at Neuberger Berman. He thinks CSX free cash flow will grow by at least 10% this year, and he also believes the decline in volumes will mitigate.
Shares of CSX last traded at $22.37 in pre-open trade, up 1.9 percent.
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