UPDATE: Dahlman Rose Raising Price Target On CSX (CSX)

Dahlman Rose & Co. is raising its earnings estimates and price target on shares of CSX Corporation CSX following a strong earnings report. The price target goes to $90 from $86, and it has a Buy rating on shares. In a note to clients, Dahlman Rose writes, "We are raising our EPS estimates to reflect better-than-expected 1Q11 results, continued strength in the freight recovery, solid pricing, favorable export coal outlook, and continued operational improvements. Our new 2011 and 2012 EPS estimates are $5.05 and $5.80 vs our prior estimates of $4.90 and $5.55. We are also raising our price target to $90 from $86 per share based on the same multiple of 15.5x applied to our new 2012 EPS. We reiterate our Buy rating." Shares of CSX are up $1.15 to $75.18, a gain of 1.55% so far this morning.