UPDATE: JP Morgan Raises Price Target on CSX from $28.00 to $29.00

J.P. Morgan has published a report on CSX Corporation CSX raising the price target on CSX from $28.00 to $29.00. In the report, J.P. Morgan wrote, "CSX's conference call was upbeat in terms of their outlook for both volumes and pricing but their plans to increase headcount and rolling stock resources in 2H11 point to modest cost pressures. We believe the broader CSX story is essentially unchanged and the economy and pace of volume growth remain the primary sources of uncertainty. In our view, medium term reward to risk remains attractive and our sense is that near term performance is likely to be sensitive to volume and velocity trends." J.P. Morgan rated CSX Overweight with a price target of $29.00. CSX closed Wednesday at $25.05.