Railroad-based transportation supplier CSX Corporation (CSX) was downgraded by analysts at Credit Suisse on Friday due to lower export coal pricing.
The analysts downgraded CSX from “Outpeform” to “Neutral” and see shares reaching $22. This target suggest a +5.3% upside to Thursday’s closing price of $20.89. Credit Suisse also lowered CSX earnings estimates.
CSX shares were down 19 cents, or -0.91%, during pre-market trading on Friday. The stock is down -8.94% over the past year.
The Bottom Line
Shares of CSX Corporation (CSX) have a 2.68% dividend yield, based on last night’s closing stock price of $20.89. The stock has technical support in the $19 price area. If the shares can firm up, we see overhead resistance around the $21-$22 price levels.
CSX Corporation (CSX) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.