Dahlman Rose Reiterates Buy and PT of $90 on CSX Corporation

Dahlman Rose reiterated its Buy rating on CSX Corporation CSX. At the same time, it left its price target unchanged at $90, after deciding to maintain its earnings per share estimates for the next two years. In a research report published today, Dahlman Rose states, "We are maintaining our 2011 and 2012 EPS estimates of $5.05 and $5.80, while noting that some potential upside exists, especially to our 2012 estimate, due to a large contract win recently announced. We are also maintaining our price target of $90 per share, based on the same multiple of 15.5x applied to our 2012 EPS. We reiterate our Buy rating on CSX shares and note that the company is well positioned to benefit from eastern intermodal strength, export coal growth, the ongoing economic recovery, and a well-capitalized balance sheet." In today's trading, CSX rose 2.55% above yesterday's close and is currently standing around $77.36.