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Upgrade Alert for CSX (CSX)

By Shiri Gupta

CSX (NYSE:CSX) was upgraded from Equal Weight to Overweight at Barclays Capital today. The stock closed yesterday at $28.67 on volume of 10.8 million shares, above average daily volume of 8.8 million.

CSX has overhead space with shares priced $28.67, or 10.5% below the average consensus analyst price target of $32.02. The stock should find initial support at its 200-day moving average (MA) of $26.57 and further support at its 50-day MA of $25.88.

In the past 52 weeks, CSX share prices have been bracketed by a low of $21.33 and a high of $37.64 and closed yesterday at $28.67, 34% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.6%.

CSX Corporation is an international freight transportation company. The Company provides rail, intermodal, domestic container-shipping, barging, and contract logistics services around the world. CSX's rail transportation services are provided principally throughout the eastern United States.

SmarTrend is tracking the current trend status for CSX and will alert subscribers who have CSX in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades

Ticker(s): CSX