Information Provided By:
Fly News Breaks for January 10, 2019
KEX
Jan 10, 2019 | 08:14 EDT
As previously reported, Wells Fargo analyst Michael Webber downgraded Kirby to Market Perform from Outperform and lowered his price target on the shares to $73 from $90. The analyst notes that the stock peaked at about $93/share in June of 2018, effectively under the premise that all 3 of its business segments could find mid-cycle health at the same time. But late-Q2/Q3 concerns around Kirby's Permian exposure via its D&S business started pushing the energy-bid out of Kirby, with the stock finding a floor near $76/share throughout most of the year. Fast forward to January and the analyst thinks that $76 is effectively the stock's ceiling through the first half of 2019.
News For KEX From the Last 2 Days
There are no results for your query KEX