BofA/Merrill Lynch Downgrades Kirby (KEX) Two Notches to Underperform

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).

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 $78.53 yesterday.

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