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CSX’s Guidance Remains Intact Despite Disruptions: Analysts Weigh In On Q1 Results, Outlook

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CSX Corp (NASDAQ:CSX) shares have been in focus after U.S. Sen. Tommy Tuberville‘s latest regulatory filing.

CSX also reported its first-quarter results on Wednesday, which came amid an exciting earnings season. Here are some key analyst takeaways from the release.

BofA Securities On CSX

Analyst Ken Hoexter maintained a Buy rating while cutting the price target from $40 to $39.

CSX’s first-quarter earnings declined by 2% year-year but came ahead of Street expectations, Hoexter said.

“Despite challenges from weather in January and the collapse of Baltimore’s Key Bridge, CSX reiterated its 2024 low- to mid-single digit volume and revenue growth targets, as it sees momentum across its Merchandise, Intermodal and Export Coal franchises,” the analyst added.

Goldman Sachs On CSX

Analyst Jordan Alliger reiterated a Buy rating and price target of $44.

CSX reported operating earnings a tad ahead of expectations, with higher-than-forecast revenue producing “an OR of 63.2%, 20bps better than our 63.4% forecast,” Alliger said in a note.

“While we note slightly lower ex-intermodal volume growth to start the 2Q, …

Full story available on Benzinga.com

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