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Fly News Breaks for February 7, 2020
CSX
Feb 7, 2020 | 08:24 EDT
Deutsche Bank analyst Amit Mehrotra upgraded CSX to Buy from Hold with a price target of $90, up from $72. With coal headwinds now well calibrated in expectations, investor focus should shift to CSX's "structural and sustainable" drivers of higher equity value, Mehrotra tells investors in a research note. These include the company's much better service and its implications for revenue growth, sustainably higher incremental margins, and balance sheet and cash return dynamics, says the analyst. He expects these factors to propel CSX shares from the cheapest versus peers to among the most expensive.
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