Close

Goldman Sachs Starts Kirby Corporation (KEX) at Neutral

September 30, 2014 7:25 AM EDT
Get Alerts KEX Hot Sheet
Price: $95.03 --0%

Rating Summary:
    12 Buy, 7 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 7 | Down: 3 | New: 1
Join SI Premium – FREE

Goldman Sachs initiated coverage on Kirby Corporation (NYSE: KEX) with a Neutral rating and a price target of $130. Analyst Steve Sherowski said strong fundamentals were offset by valuation.

"Kirby is the largest tank barge operator in the US with a leading market share in both inland and coastal segments. KEX is positively levered to crude oil and petrochemical production and is protected by the Jones Act from foreign competition. However, we believe the strong fundamentals are already reflected in its valuation with KEX stock trading near peak multiples (EV/EBITDA and P/E). Coupled with risk from pipeline capacity expansions and crude oil exports, we believe KEX’s risk/reward proposition is fairly balanced," said Sherowski.

For an analyst ratings summary and ratings history on Kirby Corporation click here. For more ratings news on Kirby Corporation click here.

Shares of Kirby Corporation closed at $119.48 yesterday.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments, Analyst EPS View, New Coverage

Related Entities

Goldman Sachs, Crude Oil