Argus lowered the firm’s price target on CSX (CSX) to $32 from $39 and keeps a Buy rating on the shares after its Q1 earnings miss. Severe weather and a track improvement project impacted the company’s ability to provide efficient service this quarter, but the firm sees long-term opportunities for CSX amid track improvements that should increase revenue and operating efficiencies for the network as well as benefits from increased U.S. manufacturing, the analyst tells investors in a research note.
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