Bank of America Merrill Lynch Reiterates Buy on CSX

Bank of America Merrill Lynch is out with its report today on CSX CSX, reiterating Buy. In a note to clients, Bank of America Merrill Lynch writes, "We reiterate our Buy opinion and $86 price objective. Our target is based on a 16.6x multiple on our 2011 EPS estimate of $5.17, and note potential upside if CSX can reach its 65% operating ratio target faster than we have anticipated (2013)." At the time of posting, shares of CSX were trading at $76.97, up 2.03% from Wednesday's close.