(Newratings.com posted the following on May 13.)
NEW YORK — Analyst John Larkin of Legg Mason initiates coverage of CSX Corporation (CSX.NYS) with a “hold” rating.
In a research note published yesterday, the analyst mentions that CSX is witnessing a turnaround due to its top management restructuring efforts and new initiatives. CSX’s operating ratio is expected to improve, with the company’s focus on the quality of load hauled, the analyst says. The company’s balance sheet is expected to improve on account of the network optimization program and a reduction in debt liabilities, according to Legg Mason.