CSX’s train velocity and dwell time saw year-over-year improvements in the third quarter
CSX Corp.’s third-quarter service performance is resonating with analysts, despite subdued shipping trends.
Susquehanna Financial Group also raised its CSX price target, to $35 from $33, citing the railroad company’s service performance. “CSX continues to deliver solid service metrics and better than macro volumes , and we’re optimistic Mike Cory will be additive to both operations and culture over the long term,” analyst Bascome Majors wrote.
Speaking during the quarterly results conference call, Cory explained that the company’s service performance saw a slight seasonal dip in the middle of the quarter, during peak vacation and holiday season, but he said its metrics are rebounding into the fourth quarter.
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