Kirby price target raised to $90 from $80 at BTIG

BTIG raised the firm’s price target on Kirby to $90 from $80 and keeps a Buy rating on the shares. After hosting investor meetings with management last week, BTIG says inland barge pricing continues to improve on the back of improving demand and nil supply growth and that improving pricing and pockets of barge scarcity should provide Kirby opportunities to increase the amount term contracts in the fleet, the analyst tells investors in a research note. The firm expects Marine margins to continue to improve this year and next.