(The following report appeared at NewRatings.com on November 12.)
NEW YORK — Analysts at Deutsche Bank Securities maintain their “buy” rating on CSX Corporation (CSX), while raising their estimates for the company. The target price has been raised from $33 to $37.
In a research note published yesterday, the analysts mention that the company has decided to adopt cost saving measures by streamlining its management team. In the third quarter, CSX had announced that it intends to focus on improving operations and earnings, the analysts report. Deutsche Bank Securities expresses its concern, however, regarding the extent of cost savings the company is likely to achieve. The EPS estimates for 2003 and 2004 have been raised from $1.85 to $1.87 and from $2.50 to $2.73, respectively.