Forecast Of The Day: CSX’s Total Carloads of Coal
What?
CSX’s (NYSE:CSX) Total Carloads of Coal declined from around 843,000 in 2019 to about 637,000 in 2020. Trefis expects the metric to recover to around 733,000 in 2021 and to about 762,000 in 2022.
Why?
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While CSX’s coal transportation volumes have shown a declining trend in recent years due to the shift towards cleaner energy sources, they saw a sharp drop in 2020 due to the impact of Covid-19.
So What?
We think the recovery is largely priced into CSX stock. We value CSX at about $37 per share, roughly in line with the current market price.
See Our Complete Analysis For CSX
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