Fly News Breaks for October 18, 2019
Oct 18, 2019 | 07:48 EDT
Argus analyst John Eade is keeping his Buy rating and $82 price target on CSX after its Q3 earnings beat this week. The analyst notes that while the stock has underperformed the market over the past quarter and the past year, the weakness offers a buying opportunity. Eade cites the focus of the new CEO to lower the company's costs to adjust to the challenging current volume trends as well as its commitment to buybacks. The analyst further points to the CSX dividend hikes, which he believes signals its confidence in the company's long-term outlook.
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