Kirby price target raised to $140 from $125 at BTIG

BTIG analyst Gregory Lewis raised the firm’s price target on Kirby (KEX) to $140 from $125 and keeps a Buy rating on the shares. Investor focus remains on Power Generation Inland tank barge activity remains strong, with Q4 overall inland volumes up about 6% y/y, the analyst tells investors in a research note. The medium term trend for US crude imports from Venezuela looks poised to increase, which should result in incremental petchem barge moves over the next few quarters, the firm added.