Jefferies Updates on CSX 2Q

Jefferies has issued a report updating on CSX Corp.'s CSX 2Q EPS. According to Jefferies, "CSX reported 2Q EPS of $0.46 vs. consensus/our $0.44. EBIT was inline, with upside from tax rate and non-operating items. Inside that result, the datapoints were a bit mixed. Volumes were light, while pricing surprised to the upside. We'll generally take that trade any day. However, domestic utility coal volumes were down 12% YoY, while some operating costs ran high. This will likely preclude 2H consensus from trending higher." CSX is Buy Rated and has a $29 Price Target. CSX closed yesterday at $25.48 a share.