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CSX (CSX) Received its Third Buy in a Row

After Susquehanna and Bank of America Securities gave CSX (NASDAQ: CSX) a Buy rating last month, the company received another Buy, this time from Evercore ISI. Analyst Jonathan Chappell maintained a Buy rating on CSX yesterday and set a price target of $42.00. The company’s shares closed last Thursday at $36.30.

According to TipRanks.com, Chappell is a 4-star analyst with an average return of 11.8% and a 61.5% success rate. Chappell covers the Industrial Goods sector, focusing on stocks such as Canadian National Railway, Knight Transportation, and Old Dominion Freight.

Currently, the analyst consensus on CSX is a Moderate Buy with an average price target of $40.18, implying a 7.4% upside from current levels. In a report issued on April 7, Susquehanna also maintained a Buy rating on the stock with a $44.00 price target.

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Based on CSX’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $3.43 billion and net profit of $934 million. In comparison, last year the company earned revenue of $2.83 billion and had a net profit of $760 million.

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CSX Corporation provides rail-based freight transportation services, which includes traditional rail services and transportation of intermodal containers and trailers. The company operates approximately 1,848 trains per day and maintains a fleet of over 3,500 locomotives and approximately 51,000 freight cars.

Read More on CSX:

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