CSX price target raised to $38 from $37 at BMO Capital

BMO Capital raised the firm’s price target on CSX to $38 from $37 and keeps an Outperform rating on the shares. The company’s Q4 results were in line, while its FY24 outlook was consistent with the firm’s forecast, the analyst tells investors in a research note. CSX volume momentum and operational improvement are showing progress, though BMO doesn’t expect incremental margins to strengthen until the back half of FY24, the firm added.