RBC Capital upgraded CSX (CSX) to Outperform from Sector Perform with a price target of $39, up from $37. The firm views CSX shares as well positioned under any consolidation scenario in the railroad sector. The company is well positioned regardless of what happens with the Union Pacific (UNP), Norfolk Southern (NSC) merger, the analyst tells investors in a research note. Meanwhile, RBC believes CSX’s operations have “improved meaningfully “in recent months despite the company still working through ongoing construction on the Howard Street Tunnel and the Blue Ridge projects.
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