Dahlman Rose Reiterates Buy Rating on CSX Corp.

Rodman & Renshaw is out with a research report this morning, where it reiterates its Outperform rating on CSX Corp. CSX; it has a $30.00 price target on the stock. The DR analysts cited the company's recent announcement that has increased its 2011 capital investment plan from $2.0 Billion to $2.2 Billion. The increase is primarily due to railcar purchases intended to meet export coal demand. The analysts believe export coal outlook remains very favorable. As for valuation, the analysts remarked, “We are maintaining our 2011 and 2012 EPS estimates of $1.68 and $1.92, while noting that some potential upside exists, especially to our 2012 estimate. We are also maintaining our price target of $30 per share based on a multiple of 15.5x applied to our 2012 EPS.”