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Fly News Breaks for April 18, 2018
CSX
Apr 18, 2018 | 07:42 EDT
Loop Capital analyst Rick Paterson raised his price target on CSX to $65, saying the company's strong Q1 earnings report may break the stock price out of its $50-$60 trading range. Paterson cites a significant improvement in Q1 operating ratio of 63.7%, even though adjusted for real estate sales, that number rises to 64.8%. The analyst keeps his Hold rating on CSX, with some added caution from "potential trade protectionism" headwinds replacing the expected benefits of the tax cuts.
News For CSX From the Last 2 Days
CSX
Mar 27, 2024 | 08:04 EDT
JPMorgan analyst Brian Ossenbeck anticipates intermodal shipments will divert away from the Port of Baltimore following the Francis Scott Key bridge collapse to other Eastern ports. The impact for rail auto volumes appears minimal given the activity at the port is primarily contained to local markets served by truck, the analyst tells investors in a research note. The firm thinks the biggest negative impact will be on export coal volume for CSX which is shipped from the Curtis Bay terminal in the area while Norfolk could pick up some volume if it is diverted to Hampton Road. The ultimate impact will depend on how quickly the port resumes operations and at this point the U.S. government has already made a statement supporting the reconstruction, JPMorgan says.