Analysts are Downgrading These 5 Stocks

2. CSX Corporation (NASDAQ:CSX)

Number of Hedge Fund Holders: 63

Susquehanna analyst Bascome Majors slashed his ratings for CSX Corporation (NASDAQ:CSX) from “Positive” to “Neutral” on Wednesday, September 28, 2022, citing macro deterioration.

The analyst was moved by a number of factors, such as persistent pressure to improve rail service, a potential surge in labor costs and the looming risk of a strike. Majors also trimmed his price target for CSX Corporation (NASDAQ:CSX) from $35 per share to $29 per share.

Meanwhile, CSX Corporation (NASDAQ:CSX) recently announced that it would post financial results for the third quarter after the closing bell on October 20, 2022.