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CSX Corp.: FBR Capital equity analyst Christian Wetherbee kept an outperform rating on shares of CSX Corp. (CSX) and raised a price target to $66 from $63 on Apr. 14.

CSX, the third-largest U.S. railroad, posted a first- quarter profit that beat analysts’ estimates after the close of trading on Apr. 13, on increased shipping volumes and more revenue from each carload.

Net income jumped 24% to $306 million, or 78 cents a share, from $246 million, or 62 cents, a year earlier, the Jacksonville, Florida-based carrier said in a statement. Sales climbed 11% to $2.49 billion, CSX said.

Wetherbee said in a note that the company’s first quarter earnings per share (EPS) was above his estimate of 70 cents and the Wall Street consensus view of 69 cents. He said highlights for the quarter were “solid” shipment volumes, augmented by better-than-expected yields (+5.9% vs. his +2.6% est.), particularly in coal, as well as “solid” year-over-year operating leverage, which resulted in a 54.1% year-over-year operating ratio.

The analyst said he believes CSX’s results are a “strong” start to the earnings season for railroad companies, and “would expect solid results from the rest of the names in the group”. He raised EPS estimates for 2010 to $3.45 from $3.25, and for 2011 to $4.10 from $3.95.

Intel Corp.: Needham & Co. equity analyst N. Quinn Bolton kept a buy rating on shares of Intel Corp. (INTC) and raised a price target to $27 from $25 on Apr. 14.

After the close of trading Apr. 13, Intel, the world’s biggest chipmaker, said first-quarter net income climbed to $2.44 billion, or 43 cents a share, from $629 million, or 11 cents, a year earlier. Analysts projected 38 cents a share. Revenue increased 44% to $10.3 billion, compared with the average estimate of $9.85 billion.

Intel also forecast record profit margins for the year. Second-quarter revenue will climb as high as $10.6 billion, exceeding analysts’ predictions, Intel said.

In a note, Bolton said Intel’s gross margin was the key highlight of its first-quarter results; not only did it exceed the company’s guidance by 240 basis points, but the company raised its 2010 annual gross margin target by 300 basis points to 64%. Bolton attributed the gross margin growth to higher-than-expected average selling prices and lower-than-expected manufacturing costs.

With gross margin well above forecasts, and inventories at “healthy” levels, Bolton raised EPS estimates for 2010 to $1.82 from $1.68, and for 2011 to $1.88 from $1.75.