CSX (CSX) PT Lowered to $38 at TD Cowen

TD Cowen analyst Jason Seidl lowered the price target on CSX (NASDAQ: CSX) to $38.00 (from $45.00) while maintaining a Buy rating.

The analyst commented: "Berkshire does not intend to purchase CSX, a move we thought was the likely outcome given the competitive offering of a East/West combination. Valuation and merger benefits clearly not appetizing to Berkshire; we now believe BN may only acquire CSX if backed into a corner following UNP/NSC deal approval and co-op agreement dissapoints. We adjust our valuation framework & our CSX PT moves to $38."

You May Also Be Interested In

• H.B. Fuller receives $1.1B-$1.2B bid for building adhesives unit
• Carpenter Technology adds $1B share buyback after exhausting prior $400M plan
• Samsonite Group to acquire BÉIS for $210 million