Credit Suisse Downgrades Kirby Corporation (KEX) to Neutral

Credit Suisse downgraded Kirby Corporation (NYSE: KEX) from Outperform to Neutral with a price target of $60.00.

Analyst G. Lewis commented, "We are downgrading KEX to Neutral (from Outperform) and maintaining our TP at $60. While we like KEXs competitive position (25%+ share in core inland/coastal businesses) and the long-term outlook for the maritime business at 20x our 2017 EPS estimate (12% below consensus) we believe the upside/downside risk is skewed to the downside. We lower 2017 EPS estimates to $2.95 from $3.20."

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 $69.83 yesterday.

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