Stock Track | CSX Soars 5% Pre-Market on Q2 Earnings Beat and Analyst Upgrades

Stock Track
24 Jul

CSX Corp (CSX) shares surged 5% in pre-market trading on Thursday, following the release of its second-quarter earnings report and a wave of positive analyst actions. The railroad operator's stock price movement reflects investor optimism about the company's performance and future prospects.

The rally was initially fueled by CSX's Q2 results, which exceeded profit estimates. While the exact figures were not provided in the available news, the earnings beat was significant enough to drive a 3% increase in share price immediately after the announcement. This positive momentum was further amplified by subsequent analyst upgrades and price target revisions.

Deutsche Bank took a notably bullish stance on CSX, upgrading the stock to Buy from Hold and setting a new price target of $40, up significantly from $29. The upgrade was attributed to the company's positive weekly service trends and potential deal prospects. Other major financial institutions followed suit, with JP Morgan raising its target price to $41 from $34, Barclays increasing to $38 from $36, and Citigroup adjusting upward to $40 from $38. These actions reflect growing confidence in CSX's operational efficiency and future growth potential in the transportation sector.

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