BofA/Merrill Lynch downgraded Kirby Corporation (NYSE: KEX) from Buy to Underperform with a price target of $72.00 (from $86.00). The change follows Q1 results. Analyst Ken Hoexter noted pricing pressure led to softer outlook, and he trimmed FY15/16 EPS estimates to $4.25/$4.80 (from $4.75/$5.65).

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Shares of Kirby Corporation closed at $78.53 yesterday.