CSX (CSX) PT Lowered to $55 at Stifel; Reiterates Hold Rating

Stifel lowered its price target on CSX (NASDAQ: CSX) to $55.00 (from $57.00) while maintaining a Hold rating ahead of the company's presentation at Cowen’s Annual Global Transportation conference. The company is slightly lowering 2017 guidance due to transitional issues in the 3Q.

FY 2017 operating ratio guidance was lowered from mid-60s to high end of mid-60s. EPS growth guidance was lowered from 25% to a range of 20-25%. The company, however, still expects free cash flow before dividends to be around $1.5 billion.

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