CSX price target lowered to $37 from $38 at Evercore ISI

Evercore ISI lowered the firm’s price target on CSX to $37 from $38 and keeps an Outperform rating on the shares. Q3 EPS came in exactly in-line with the firm’s Street-low estimate, but 2c below the average Street forecast, says the firm, which adds that the guidance for Q4 pointed to several headwinds, including lower international coal and fuel prices and the punitive impact of Hurricanes Helene and Milton, which leads it to revise its “prior Street-low” Q4 EPS estimate of 47c down to 43c. While the stock “will be weak,” and further volume shortfalls may preclude a meaningful catalyst by year-end, Evercore believes “the valuation floor has now been met, and with few other shoes to drop, the upside from here outweighs the downside,” the analyst tells investors.