CSX rises as BofA hikes PO after new five-year labor deal

Railroad operator CSX Corp CSX.O shares rise 3% to $30 premarket

BofA Global Research raises price objective to $31 from $30, an upside of 7.9% to the stock's last close; rating unchanged at 'neutral'

Says co and Brotherhood of Locomotive Engineers & Trainmen agreed to a new five-year tentative agreement on Friday, covering 3,400 locomotive engineers

Brokerage states co's CEO Joe Hinrichs said the agreement includes paid sick leave, which was not mentioned in last agreement

Adds tentative agreement includes pay increases and health & welfare improvements in line with CSX’s contracts with 13 other unions

"The only remaining major workgroup not covered by a new or tentative agreement at CSX is with the trainmen/conductors represented by SMART-TD"- BofA

18 of 28 brokerages rate the stock "buy" or higher, 10 "hold"; their median PT is $33 - data compiled by LSEG

As of last close, stock had fallen nearly 11% YTD