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UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Kirby Corporation

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Benzinga's Top Downgrades
Macquarie Downgrades Kirby To Underperform

In a report published Friday, Jefferies reiterated its Buy rating on Kirby Corporation (NYSE: KEX), and raised its price target from $70.00 to $87.00.

Jefferies noted, “Kirby reported 4Q12 EPS of $1.03, including the United earn-out reversal credit of $0.09. Excluding the credit, Kirby would have reported 4Q12 EPS of $0.94 which still easily exceeded Street consensus of $0.86 as well as our estimate of $0.88 primarily due to strength in the coastal marine transportation business. Kirby also introduced 2013 EPS guidance of $4.00 to $4.20.”

Kirby Corporation closed on Thursday at $66.49.

Latest Ratings for KEX

DateFirmActionFromTo
May 2015MacquarieDowngradesNeutralUnderperform
May 2015Bank of AmericaDowngradesBuyUnderperform
Apr 2015FBR CapitalDowngradesOutperformMarket Perform

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