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Kirby upgraded at Evercore ISI following strong Q4

Published 02/02/2018, 02:31 PM
© Reuters.  Kirby upgraded at Evercore ISI following strong Q4
KEX
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  • Tank barge operator Kirby (KEX -0.8%) is upgraded to Outperform from In-line with an $86 price target, raised from $65, at Evercore ISI in the wake of strong Q4 results following three straight years of earnings contraction.
  • The firm thinks the defensive decisions KEX has made to withstand a downturn and a counter-cyclical acquisition the company made in its land-based diesel engine services business have resulted in cost synergies and revenue opportunities.
  • The real upside for KEX, according to Evercore ISI, will come from the inland barge segment, which is likely to benefit from limited capacity expansion over the last two years.
  • Now read: Our Top Idea Of 2018: 80% Upside To Baseline Case


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