Citigroup Reports on CSX Corp

Citigroup commented on CSX Corp CSX in a report released today. In the report, Citigroup was positive in its outlook on the company. Citigroup writes, “With its ability to grow core pricing at levels above rail inflation largely accepted (and expected), CSX spent more time at the meeting discussing opportunities to drive truck to rail conversions and to fill demand for export coal. That said, the combination of $130-$140 million of annual productivity gains and core pricing increases remain crucial in the company's ability to hit its current margin target and improve further.” Citigroup currently has a Buy/Medium Risk rating on the company and a target price of $85. Shares of CSX closed the trading day at $75.44, down from $73.87 at open.