On Oct 18, major Wall Street analysts update their ratings for $CSX Corp (CSX.US)$, with price targets ranging from $37 to $42.
J.P. Morgan analyst Brian Ossenbeck maintains with a buy rating, and adjusts the target price from $42 to $41.
Citi analyst Ariel Rosa maintains with a buy rating, and adjusts the target price from $42 to $41.
Barclays analyst Brandon Oglenski maintains with a buy rating, and maintains the target price at $40.
Jefferies analyst Stephanie Moore maintains with a hold rating, and adjusts the target price from $38 to $37.
Evercore analyst Jonathan Chappell maintains with a buy rating, and adjusts the target price from $38 to $37.
Furthermore, according to the comprehensive report, the opinions of $CSX Corp (CSX.US)$'s main analysts recently are as follows:
The company's Q3 earnings fell short of expectations due to a difficult macro environment and an unfavorable product mix, which impacted the results. Although there is a potential for a demand increase, the forecast for when this will occur keeps extending further into the future. Additionally, there have been slight reductions in the earnings per share estimates for the upcoming fiscal years.
The company's Q3 earnings did not meet expectations and the outlook appears to be diminished mainly due to adverse weather conditions. It is anticipated that Q4 results will experience a more significant impact from recent hurricanes, indicating a lack of immediate positive changes. It is expected that CSX management will highlight long-term opportunities at the forthcoming Investor Day, yet it is believed that share prices may face downward pressure in the short run.
CSX has reported Q3 results that were marginally below expectations, coupled with forecasts suggesting a challenging Q4, in part due to the impact of hurricanes but also stemming from difficulties in achieving increased pricing. While a recovery in trucking rates may be necessary to elevate the share price in the near-term, CSX is considered to be the most reasonably priced among its peers in the rail sector.
The company's Q3 EPS aligned with the lowest estimates on the street, missing the average forecast slightly. The outlook for Q4 suggests challenges ahead including decreased international coal and fuel prices, along with the adverse effects of recent hurricanes. Despite these factors, which may lead to a near-term dip in stock value and potential absence of significant catalysts by year-end, it is believed that the current valuation represents a floor, suggesting that potential for growth now surpasses the risk for further decline.
The firm has observed that hurricanes significantly influenced CSX's third-quarter results and anticipates a subsequent increase in some fourth-quarter costs due to these events. However, the main focus remains on CSX's progressive restoration of a reliable service track record with its customers after the widespread industry challenges faced in 2022.
Here are the latest investment ratings and price targets for $CSX Corp (CSX.US)$ from 10 analysts:
Note:
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