UPDATE: Dahlman Rose Raises PT on CSX to $31

Dahlman Rose is out with its report today on CSX CSX, raising its PT from $30 to $31. In a note to clients, Dahlman Rose writes, "We are raising our EPS estimates to reflect better-than-expected 2Q11 results, continued pricing strength, favorable export coal and intermodal outlook, and continued incremental margin strength. Our new 2011 and 2012 EPS estimates are $1.72 and $2.00 vs our prior estimates of $1.68 and $1.92. We are also raising our price target to $31 from $30 per share based on the same multiple of 15.5x applied to our new 2012 EPS. We reiterate our Buy rating." At the time of posting, shares of CSX were trading pre-market at $25.20, up 0.60% from Wednesday's close.