BofA raised the firm’s price target on CSX (CSX) to $41 from $40 and keeps a Buy rating on the shares. Following the board ousting Joe Hinrichs as CEO, CSX has re-entered the M&A fray as a likely sell to a western or Canadian railroad, given its comments that it is open to all discussions, the analyst tells investors in a research note. The firm added that the move also seems to focus on Angel as an operations expert, while also bringing in a seasoned M&A expert, if discussions arise again.
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