CSX price target raised to $40 from $37 at UBS

UBS raised the firm’s price target on CSX to $40 from $37 and keeps a Buy rating on the shares. CSX reported solid Q4 results and provided a constructive view on volumes with 2024 guidance of low to mid single digit volume growth and the expectation of growth in the merchandise, coal and intermodal segments, the analyst tells investors in a research note. However, mix and lower fuel surcharge are headwinds to revenue growth which is expected to be the same as volume growth and CSX faces a $50M year over year reduction in other revenue in 1Q24, the firm says.