Here's Why Shares of CSX are Higher in Thursday's Session

BMO downgraded CSX to MARKET PERFORM from OUTPERFORM, but raised its price target by $1 to $35.

Author:: Anders Keitz
Publish date:: Nov 10, 2016 11:28 AM EST

Shares of CSX (CSX) - Get Report were higher on Thursday after BMO Capital Markets adjusted its ratings on the shares. BMO downgraded CSX to MARKET PERFORM from OUTPERFORM, but raised its price target by $1 to $35. The analysts at BMO see a favorable outlook for CSX over the medium term. They think there will be significant productivity improvement opportunities, positive volume growth and strong pricing that will offset cost inflation. But, in the near-term, analysts believe some pressures remain, such as an elevated over-supplied trucking market and decelerating cost savings.

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