Goldman Sachs Starts Kirby Corporation (KEX) at Neutral
Get Alerts KEX Hot Sheet
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
- Oppenheimer Starts Xeris Pharmaceuticals (XERS) at Outperform, 'successful commercial execution will continue to drive top-line growth'
- Q1 earnings could lead to a final near-term cut for Tesla estimates - Oppenheimer
- HSBC Downgrades Sunny Optical Technology Group Co Ltd (2382:HK) (SNPTF) to Hold, 'overestimated Sunny's share gains in the iPhone lens supply chain'
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS View, New CoverageRelated Entities
Goldman Sachs, Crude OilSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!