Citigroup analysts called the transportation supplier stock a "must own" name, and upped its price target to $41 from $34.
Analysts at the firm said they believe the rail operator is in the early stages of an earnings growth acceleration, while its management is focused on costs.
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Jacksonville, FL-based CSX provides rail-based transportation services, including traditional rail service and the transport of intermodal containers and trailers through its approximately 21,000 route mile rail network.
Shares of CSX are declining by 0.48% to $37.08 in early market trading Thursday.
Separately, TheStreet Ratings team rates CSX CORP as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate CSX CORP (CSX) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, revenue growth, reasonable valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow."