CSX Corporation bulls stay positive on the stock upside
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CSX Corporation (CSX
+0.1%) has underperformed many rail peers this year, but the long-term upside on the stock is still seen by analysts with 19 out of 27 firms covering the stock maintaining a Buy rating or higher through the rough macro backdrop.
Bank of America thinks CSX (CSX) should experience a multiple expansion as costs are culled and the company turns to focus on volume growth and sees pricing grow above inflation. CSX (CSX) is expected to be able to achieve double-digit sustainable earnings growth over the long term given the railroad company's low-cost structure in comparison to many of its peers and the market share gains it has achieved.
CSX Corporation (CSX) trades in the middle part of its 52-week range of $29.49 to $38.63.