Street Calls of the Week
JACKSONVILLE, Fla. - CSX (NASDAQ:CSX), a $65.66 billion market cap transportation giant and prominent player in the ground transportation industry according to InvestingPro, has reopened its Blue Ridge Subdivision freight line, almost exactly one year after Hurricane Helene caused extensive damage to the critical rail corridor.
The 60-mile route, which carries over 14 million tons of freight annually and serves as one of CSX’s four north-south corridors, resumed operations Thursday following what the company described as one of its largest recovery projects in its history. The restoration comes at a crucial time for CSX, which generated $14.15 billion in revenue over the last twelve months.
The restoration work included rebuilding the 530-foot Poplar Bridge with a modern ballast-deck design and reconstructing the Devil’s Creek bridge that crosses the Tennessee-North Carolina state line. CSX also reinforced retaining walls and upgraded drainage systems throughout the Nolichucky Gorge.
"This is a significant moment for CSX, for the communities of Tennessee and North Carolina, and for everyone who has worked tirelessly over the past year," said Steve Angel, President and CEO of CSX, in a press release statement.
The project involved more than 570,000 man-hours of work, utilized 1 million cubic yards of rock and material for rebuilding embankments, and required 35,500 linear feet of new track in the Nolichucky River gorge.
CSX worked with state and federal agencies, environmental specialists, and local communities to complete the restoration. The company indicated that despite the hurricane’s disruption, it maintained service levels across its broader network during the outage.
The Blue Ridge Subdivision serves not only local customers but also functions as a throughway for CSX’s entire system, connecting Appalachian communities and businesses to the national freight network. With the company’s next earnings report due on October 16, investors can access comprehensive analysis and additional insights through InvestingPro’s detailed research reports, which cover this and over 1,400 other top US stocks.
In other recent news, CSX Corporation has announced a leadership change with the appointment of Steve Angel as President and CEO, effective September 28, 2025. Angel succeeds Joe Hinrichs, whose tenure was described by Ancora Holdings Group as "value-destructive." Ancora, a shareholder in CSX, has expressed support for this leadership change and anticipates potential mergers and acquisitions. Following the CEO transition, BofA Securities has raised its price target for CSX to $41, maintaining a Buy rating. Jefferies also increased its price target to $40, citing strong momentum and improved service levels. Meanwhile, BMO Capital reiterated its Market Perform rating with a $38 price target. Angel, who joins CSX’s board, brings extensive leadership experience, having served as CEO of Linde plc and Praxair. This leadership shift marks a significant development for the company as it moves forward.
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