BTIG raised the firm’s price target on Kirby (KEX) to $160 from $135 and keeps a Buy rating on the shares. The company’s barge volumes are continuing to strengthen while demand for power generation is higher, the analyst tells investors in a research note. March inland refined product volumes were the second highest in 15 years, held by crack spreads averaging about $40 per barrel versus $19 per barrel the first two months of the year, the firm added.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on KEX:
- Kirby price target raised to $160 from $147 at Citi
- Kirby price target raised to $158 from $138 at BofA
- Kirby price target raised to $153 from $136 at Wolfe Research
- Kirby Expands and Extends Revolving Credit Facility Commitment
- Trump Opens U.S. Oil Routes to Foreign Ships as Supply Shock Puts Refiners Stocks in the Spotlight