07/17/13 11:27 am ET ... S&P REITERATES BUY
RECOMMENDATION ON SHARES OF CSX
CORP. (CSX 25.0****):We trim our EPS estimate
for '13 by $0.04 to $1.82 and '14's by $0.05
to $2.04 to incorporate higher operating expense
assumptions, including depreciation.
However, we raise our target price by $2 to $29
due to more positive news flow on CSX's construction
and agricultural shipments and a stabilization
of coal volumes. Further, we think the
infrastructure build-out for both its intermodal
and crude-by-rail services will support improved
earnings long term.We note that CSX
posted, excluding $0.04 in special items, Q2 EPS
of $0.48, vs. $0.47, a penny below our estimate. /
I want to see it at $40 or above. I am a CSX employee retireing in two years and one month...union agreement gives me 30 free shares a year and the dividends do more then that with the 401K.
Watching grain and frac sand boom in West Michigan. The corn looks to be some of the finest in years up here and we ship it south on CSX to all the major feeders in the south...nuthin but a great big cash cow for CSX and the local growers. Inbound finished lumber is growing nicely of late also. A couple of subdivisions that have sat idle for the past 4 years are opening up to builders again.
Nothing but good news IMHO. Only thing better would be some kind of a merger but I doubt if that will happen again...maybe in my lifetime.
Would like to see CP trains from Chitown to Ontario come back but am not holding my breath on that either...THAT was a big payer and they pretty much gave that away a few years back.