Barclays and Citi have raised their price targets on CSX Corporation, citing improving freight demand and firmer pricing. Barclays lifted its target to $55 from $47 with an Overweight rating, while Citi increased its target to $53 from $46 while keeping a Neutral rating. The firms noted that solid U.S. and international freight demand, reduced transportation capacity, higher U.S. imports, and firmer core freight pricing could support stronger earnings. Citi added that second-quarter earnings for transportation companies could be among the strongest in years as tighter capacity combines with moderately improving demand. The differing ratings indicate that the firms do not share the same degree of conviction in the stock.
CSX CorporationBarclays and Citi raised price targets on CSX, citing improving freight demand and pricing.