CSX price target raised to $40 from $39 at BofA

BofA analyst Ken Hoexter raised the firm’s price target on CSX to $40 from $39 and keeps a Buy rating on the shares. The analyst says rail carloads ended Q1 up 1% year-over-year, an increase for the second consecutive quarter. Class I rails also have improving operating metrics and service levels, the analyst tells investors in a research note. BofA believes inflecting volumes this early in the cycle set the stage for improved performance.