World Kinect price target lowered to $30 from $32 at Stifel

Stifel analyst Benjamin Nolan lowered the firm’s price target on World Kinect (WKC) to $30 from $32 and keeps a Hold rating on the shares following what the firm calls”a decent 4Q result,” excluding a large loss from the closure of Brazilian assets. Forward guidance reflects good cost control, but no real volume growth and Q1 gross margins look to be well below last year’s results, the analyst tells investors.