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JACKSONVILLE - CSX Corp. (NASDAQ:CSX), a prominent player in the Ground Transportation industry with a market capitalization of $60 billion, announced that President and Chief Executive Officer Joe Hinrichs will address Morgan Stanley’s 13th Annual Laguna Conference in California on Thursday, September 11, at 8:30 a.m. Pacific time.
The transportation company said in a press release that the address will be broadcast live via webcast on the company’s investor relations website, with a replay available following the event.
CSX, headquartered in Jacksonville, Florida, provides rail, intermodal and rail-to-truck transload services across various markets including energy, industrial, construction, agricultural and consumer products.
The company’s network connects major metropolitan areas throughout the eastern United States and links more than 240 short-line railroads and over 70 ocean, river and lake ports with population centers and farming communities.
CSX has operated for nearly 200 years and serves a region where approximately two-thirds of the U.S. population resides, according to the company statement.
In other recent news, CSX Corporation has been in the spotlight with a series of significant developments. The company has seen its stock price target reduced by both Jefferies and TD Cowen, with each maintaining a Buy rating. Jefferies adjusted its target to $38 from $40, while TD Cowen lowered it to $38 from $45, influenced by Berkshire Hathaway’s decision not to pursue an acquisition of CSX. This decision was confirmed by Warren Buffett, who stated that Berkshire Hathaway is not interested in acquiring any railroad companies, including CSX.
Additionally, the White House has dismissed Surface Transportation Board member Robert Primus, citing misalignment with President Trump’s agenda. In operational news, CSX and BNSF have launched new intermodal services to enhance coast-to-coast shipping solutions across the United States. These services aim to connect Southern California with Charlotte, North Carolina, and Jacksonville, Florida, as well as link Phoenix, Arizona with Atlanta, Georgia. These recent developments highlight CSX’s ongoing strategic adjustments and operational expansions.
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