(The following report appeared at NewRatings.com on November 3.)
NEW YORK — Analyst Rick Paterson of UBS upgrades CSX Corporation (CSX) from “neutral” to “buy.” The target price has been raised from $34 to $38.
In a research note published this morning, the analyst mentions that CSX Corporation is attractively positioned to benefit from an impending upturn in the US railroads sector. UBS anticipates robust revenue growth opportunities in the railroads sector in the near term, boosted by the impressive GDP growth results for 3Q03 and the improving pricing trends in the coal and fuel markets.