CSX (CSX) Shares Moving Lower Following Sterne Agee Downgrade

Shares of CSX (NYSE: CSX) are lower Thursday afternoon following an earlier downgrade from Sterne Agee's Jeff Kauffman. The stock last traded at $25.01, down 2.1 percent from Wednesday's closing price.

Sterne Agee now rates CSX shares a Neutral, down from Buy previously. The analyst reduced his price target on the stock to $26.

The firm believes a recent rise in the stock (up nearly 9 percent in just four trading sessions spanning the 16th-21st) may not be completely warranted, especially considering increased regulatory risk as of late.

Kauffman says CSX's Surface Transportation Board hearings in Washington "appear to be leaning toward 'experimental regulation' (very slippery slope), which might involve more line switching, or a more simplified rate protest process - neither case is constructive to rail returns on capital."

Track all the market-moving analyst action on shares of CSX with our Analyst Ratings page.

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