Kirby price target lowered to $107 from $110 at BofA

BofA lowered the firm’s price target on Kirby (KEX) to $107 from $110 and keeps a Buy rating on the shares. The firm lowered its Q3 and 2025 EPS estimates 1% each as it anticipates near term demand and utilization impacts will only be partially offset by cost measures. The firm believe Kirby’s inland barge utilization could “ease into the high-80’s” in Q3 from low- to mid-90’s levels in Q2 given softening demand, the analyst noted.