CSX rises after Q2 profit tops expectations
** CSX Corp's CSX.O shares up 2% at $33.67 premarket after U.S. railroad operator's qtrly earnings surpass expectations
** Q2 adj EPS of 49 cents beat consensus by a penny, per LSEG, as co benefited from higher shipment volumes, robust pricing
** Rev of $3.7 bln in qtr inline with Street
** JP Morgan, which rates CSX "overweight", boosted its PT by $3 to $42
** CSX will outperform rail peers after Q2 results were "significantly better than expected, especially when accounting for an additional -$0.01 headwind from the accounting review that was not included in consensus estimates," JP Morgan said in note
** Bernstein raised its PT by $1 to $37
** 18 of 27 analysts rate CSX "strong buy" or "buy", rest rate "hold" and their median PT is $39.56 - LSEG data
** Through Mon, CSX shares down ~5% YTD vs Dow Jones Transports .DJT 5% decline. In contrast, S&P 500 .SPX up ~9% in 2024
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
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