Jefferies Lifts Price Target on Kirby (KEX) to $73

Jefferies reiterated its Buy rating on Kirby Corporation (NYSE: KEX) and raised its price target from $67 to $73.

The firm comments, "Yesterday after the market close, Kirby reported 2Q11 EPS of $0.77 which exceeded both Street consensus and our estimate of $0.74 due to stronger than expected results in both the Marine Transportation business segment and Diesel Engine Services business segment."

Jefferies raised FY11 from $2.91 to $3.10, FY12 from $3.35 to $3.65.

For more ratings news on Kirby Corporation click here and for the rating history of Kirby Corporation click here.

Shares of Kirby Corporation closed at $58.58 yesterday.

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