Railroad earnings reporting season kicked off this week with CSX Corp. and Union Pacific Corp. both beating Wall Street’s top and bottom line estimates Thursday.
CSX’s CSX stock rose 3.4% Friday, while Union Pacific’s UNP stock fell 2.1%. The S&P 500 Index SPX rose 0.01%. RBC Capital Markets also raised its CSX price target to $33 from $32. “CSX’s strong operating performance metrics have translated into notable business wins, which in our view will allow the company to grow at a faster rate than its peers,” wrote RBC analyst Walter Spracklin, in a note released Thursday. RBC reiterated its outperform rating for CSX.
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