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