CSX stock price target raised to $41 by BofA after CEO change

Investing.com - BofA Securities raised its price target on CSX (NASDAQ:CSX) to $41.00 from $40.00 while maintaining a Buy rating following the appointment of a new CEO. The new target sits within the broader analyst range of $27-$43, with InvestingPro data showing the stock currently trading near its Fair Value with a market capitalization of $66.87 billion.

CSX’s board of directors named Steve Angel, 70, as President and CEO, effective Sunday, September 28, replacing Joe Hinrichs, 59, who had served in the role from September 2022 to September 2025. The leadership change comes as CSX, a prominent player in the Ground Transportation industry according to InvestingPro, maintains strong financial health with $6.64 billion in EBITDA over the last twelve months.

Angel previously served as CEO of Linde AG from 2018-2022 until his retirement, where he oversaw the integration of Linde AG and Praxair, Inc., after serving as CEO of Praxair. The Linde-Praxair merger created the world’s largest industrial gases and engineering company.

The leadership change follows several notable industry developments, including meetings between BNSF and Hinrichs where BNSF declined to acquire CSX (according to a Warren Buffett statement on CNBC), a late call by CSX to Union Pacific ahead of its July 2025 bid for another eastern railroad, and Canadian Pacific CEO Keith Creel’s public letter disengaging from railroad M&A for now.

BofA Securities notes that Angel brings operational expertise as a former GE Transportation executive with rail equipment experience, while also providing seasoned M&A experience should future industry consolidation discussions arise.

In other recent news, CSX Corp. has undergone significant leadership changes, appointing Steve Angel as the new President and CEO, effective September 28, 2025. Angel succeeds Joe Hinrichs, who was characterized as having a "value-destructive" tenure by Ancora Holdings Group, a CSX shareholder. Ancora praised the board’s decision to appoint Angel, viewing it as a positive initial step. In related developments, RBC Capital has upgraded CSX’s stock rating to Outperform, citing operational improvements and raising the price target from $37.00 to $39.00. Meanwhile, Jefferies has also raised its price target for CSX to $40.00, maintaining a Buy rating due to the company’s strong momentum and improved service levels. BMO Capital has reiterated its Market Perform rating with a $38.00 price target, following the leadership change. These analyst actions reflect varying perspectives on CSX’s strategic direction and operational outlook.

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