Jim Foote being made interim CEO is an "ominous sign" and implies Hunter Harrison's return to CSX is "less than likely," Loop Capital analyst Rick Paterson tells investors in a research note. The analyst sees the company's future as "very cloudy" in the event that Harrison does not return. He believes Harrison needed to do two things during his tenure: change the network and change the culture. Arriving on March 6, Harrison likely did not have enough time to achieve the two objectives, Peterson contends. The analyst keeps a Hold rating on CSX with a $57 price target.

UBS analyst Thomas Wadewitz lowered the firm's price target on CSX to $44 from $46 and keeps a Buy rating on the shares. CSX's Q1 EPS was modestly above consensus, showing improvement in the Purchased Services and Other expense line and providing positive commentary on their outlook for volumes, the analyst tells investors in a research note. The Q1 report was solid and CSX provided a constructive outlook, UBS contends.

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