Kirby price target raised to $85 from $83 at Stifel

Stifel analyst Benjamin Nolan raised the firm’s price target on Kirby to $85 from $83 and keeps a Buy rating on the shares. Stifel expects inland margins to continue to improve, the coastal business to go from "zero to hear" after a year of heavy maintenance, and the distribution and services business to do well, the analyst tells investors. With meaningful improvements likely in those three areas, Stifel expects the valuation to improve.