Goldman Sachs Upgrades CSX (CSX) to Buy, Sees 19% Upside
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Price: $25.50 +0.59%
Rating Summary:
11 Buy, 13 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
11 Buy, 13 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade CSX Now!
Goldman Sachs upgraded CSX (NYSE: CSX) from Neutral to Buy and raised their price target from $79 to $93, suggesting 19 percent upside.
The analyst said while metallurgical coal demand and higher fuel prices have driven recent outperformance in CSX, margin upside should drive the next leg.
Goldman has increased confidence in their Street-high estimates. They also said recently released EPA recommendations were less stringent than expected and they have a positive outlook for US export metallurgical coal on raised tariff pricing and strong worldwide demand. In addition, the expect CSX to continue to take intermodal share.
The firm adjusted 2011E/2012E/2013E EPS move to $5.37/$6.47/$7.40 from $5.40/$6.46/$7.38
For more ratings news on CSX click here and for the rating history of CSX click here.
Shares of CSX closed at $78.37 yesterday, with a 52 week range of $46.51-$78.90.
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The analyst said while metallurgical coal demand and higher fuel prices have driven recent outperformance in CSX, margin upside should drive the next leg.
Goldman has increased confidence in their Street-high estimates. They also said recently released EPA recommendations were less stringent than expected and they have a positive outlook for US export metallurgical coal on raised tariff pricing and strong worldwide demand. In addition, the expect CSX to continue to take intermodal share.
The firm adjusted 2011E/2012E/2013E EPS move to $5.37/$6.47/$7.40 from $5.40/$6.46/$7.38
For more ratings news on CSX click here and for the rating history of CSX click here.
Shares of CSX closed at $78.37 yesterday, with a 52 week range of $46.51-$78.90.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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