CSX Corporation (NASDAQ:CSX) is one of the best railroad stocks to buy right now. On August 27, TD Cowen cut its price target for CSX Corp. from $45 to $38, while maintaining a Buy rating. The revision comes after signals that Berkshire Hathaway is unlikely to pursue an acquisition of CSX, contrary to earlier expectations of a strategic East-West rail merger.
TD Cowen cited a lackluster merger appeal for Berkshire and now sees a potential CSX acquisition by BNSF—Berkshire’s rail subsidiary, only under pressured conditions, such as regulatory approval of a Union Pacific/Norfolk Southern deal. Despite the lowered target, the firm remains optimistic about CSX’s long-term prospects.
CSX Corporation is a leading North American rail-based freight transportation company that provides services such as traditional rail transport, intermodal container and trailer movement, and rail-to-truck transloading.
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This article is originally published at Insider Monkey.
