CSX (CSX) PT Lowered to $38 at TD Cowen
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Price: $49.64 +0.47%
Rating Summary:
23 Buy, 15 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 60
Rating Summary:
23 Buy, 15 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 60
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TD Cowen analyst Jason Seidl lowered the price target on CSX (NASDAQ: CSX) to $38.00 (from $45.00) while maintaining a Buy rating.
The analyst commented: "Berkshire does not intend to purchase CSX, a move we thought was the likely outcome given the competitive offering of a East/West combination. Valuation and merger benefits clearly not appetizing to Berkshire; we now believe BN may only acquire CSX if backed into a corner following UNP/NSC deal approval and co-op agreement dissapoints. We adjust our valuation framework & our CSX PT moves to $38."
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