CSX price target lowered to $34 from $37 at Bernstein

Bernstein analyst David Vernon lowered the firm’s price target on CSX (CSX) to $34 from $37 and keeps a Market Perform rating on the shares. The firm says the railroads have gone from being a consensus long sector to being a relatively boring group, dragged down by anemic demand and struggling through cost pressure and margin erosion. Bernstein remains of the view that “we are moving past the worst of times.”