TD Newcrest Upgrades CSX (CSX) to Buy; Delivered a Modest Upside Surprise

TD Newcrest upgraded CSX (NYSE: CSX) from Hold to Buy. PT $93.

TD analyst said, "We are attracted to CSX’s exposure to export coal and domestic intermodal conversion activity, its leverage to the upturn in truck and LTL pricing, and its consistent execution. The stock has underperformed its peers since the Q1/11 reporting season began, and now offers among the highest implied rates of return to our target price within the group. CSX is trading at 14.2x our FTM EPS estimate versus the group average of 14.6x."

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

Shares of CSX closed at $78.11 yesterday.

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