Although rail stocks have come a bit off their highs, particularly the
eastern operators, Wall Street still remains pretty bullish on the
prospects of rail continuing to take share from trucking. With that, an
in-line quarter for CSX (NYSE:CSX)
isn't likely to change the story much in either direction. Improvements
in the coal business next year, a continued housing recovery, and
ongoing growth in the intermodal business should all lead to better
volume and operating profits, but the stock's valuation indicates that
Wall Street is already counting on that happening.
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