Barclays Maintains an 'Overweight' on CSX (CSX); Quarter in Line as Price Holds

Barclays maintains an 'Overweight' on CSX (NYSE: CSX) price target of $29.00.

Barclays analyst says, "Quarter in line with a little help from buybacks: EPS results came in at $0.43, matching our estimate and consensus. Operating results were a tad shy, but aggressive share buybacks added approximately $0.01 versus our estimate...Given the impact of Hurricane Irene, low expectations, and pricing trends that remained strong, we think the market will be able to look through this quarter. We suspect CSX saw a disproportionate impact from Irene, and expect the company to better leverage its cost base looking forward. After underperforming the group recently, we see a favorable risk reward, though our top pick in rails remains Norfolk Southern (NYSE: NSC)."

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

Shares of CSX closed at $21.34 yesterday.

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