CSX Corp
CSX: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$15.00 | Gckmy | Mbmwqkhzl |
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
As anticipated, the International Longshoremen’s Association has implemented a work stoppage across US East Coast and Gulf Coast ports. As we understand it, the dockworkers union initially wanted a more than 70% increase in wages over a six-year period in order to return to the negotiating table. Before the strike, it sounded to us as if the Biden administration was signaling hesitancy to intervene via the Taft-Hartley Act. Thus, the potential duration of the strike remains uncertain.