(Reuters circulated the following article on April 19.)
NEW YORK — Shares of CSX Corp. rose 4.6 percent in trading before the bell on Wednesday after a brokerage firm raised its price target on the U.S. railroad.
CSX said on Tuesday that its net profit from ongoing operations for the first quarter rose 56 percent on the year, due to record revenue, strong demand and the effects of a company-wide efficiency drive.
UBS on Wednesday raised its price target for the railroad to $86 a share from $76 per share.
CSX shares rose to $70.37 on the Inet electronic brokerage system from the previous close on Tuesday of $67.27 on the New York Stock Exchange.