Bank of America Securities Remains a Buy on CSX (CSX)

A federal appeals court ruled in favor of Zayo Group in a dispute with CSX Transportation over whether CSX can block and charge for fiber optic cable beneath its Indiana rail corridor. The Seventh Circuit held CSX’s easements do not include excluding third parties below ground or above tracks absent disruption. CSX’s standing dismissal was partially reversed, but the outcome stayed.

IMAX, JPMorgan Chase, and CSX shares hit 52-week highs after Wall Street price-target hikes and momentum from recent earnings. IMAX reported Q2 revenue of $102.8M (+12.2% YoY) and adjusted EPS $0.43 (+65%). JPM posted Q2 EPS $7.7 on $57.35B revenue. CSX Q2 revenue rose 10% to $3.94B and diluted EPS to $0.54.

CSX Corporation (CSX) shares have outperformed the S&P 500 over the past year and in 2026. On July 23, CSX rose 5.8% after Q2 2026 results beat expectations, with revenue up 10% to $3.9B, operating margin 38.3%, and adjusted EPS $0.54. Analysts expect 2026 EPS of $1.98 and a “Moderate Buy” consensus; Deutsche Bank raised its target to $59.

Union Pacific (UP) and Norfolk Southern (NS) filed updated commitments with the U.S. Surface Transportation Board to support their proposed merger, including expanded fixed “gateway pricing,” protections for “three-to-two” shippers, and temporary alternative service access if integration performance declines. The deal is expected to close mid-2027. Separately, Q2 revenue rose for UP and NS and other major railroads, with most raising 2026 guidance.

CSX reported Q2 results: revenue $3.94B, net income about $1.0B (EPS $0.54), 38.3% operating margin, and 6% volume growth. Management announced a $5B buyback, an 8% dividend increase, and raised 2026 guidance. Analysts including TD Cowen, BofA, Evercore, Citi, JPMorgan, and RBC raised CSX price targets.

IMAX, JPMorgan Chase, and CSX shares hit 52-week highs after Wall Street price target hikes and momentum from recent earnings. IMAX reported Q2 revenue of $102.8M (+12.2% YoY) and adjusted EPS $0.43 (+65%). JPM posted EPS $7.7 on $57.35B revenue and CSX revenue $3.94B (+10%) with EPS $0.54 (+23%).