RBC upgrades CSX to 'outperform', raises PT

** Shares of railroad operator CSX CSX.O rise nearly 2% to about $33.4 in early trading

** RBC upgrades co to "outperform" from "sector perform" and raises PT to $39 from $37, upside of 19% on last close

** CSX’s train velocity and terminal dwell have both improved meaningfully since Q1 - RBC

** Says co's stock is well positioned under virtually all Union Pacific UNP.N and Norfolk Southern NSC.N consolidation scenarios

** Seven of 28 brokerages rate the stock "strong buy", 12 "buy" and nine "hold"; their median PT is $39 - according to data compiled by LSEG

** Including session gains, shares up about 3.5% YTD