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Investing.com - Wolfe Research raised its price target on Kirby Corp. (NYSE:KEX) to $119.00 from $101.00 on Thursday, maintaining a Buy rating on the marine transportation and diesel engine services provider. According to InvestingPro data, KEX shares have surged 17.62% over the past week, though the stock’s RSI suggests it may be entering overbought territory.
The price target increase follows Kirby’s guidance for improved sequential Inland revenues and margins in the fourth quarter, along with expectations for flattish Coastal trends.
Wolfe raised its fourth-quarter earnings per share estimate by 7% to $1.66, positioning its forecast slightly above consensus, and increased its 2026 EPS estimate by 2% to $6.90.
The research firm noted that Kirby is successfully overcoming Inland headwinds through Coastal strength, record Power Generation growth, and ramping share buybacks.
Kirby currently trades at less than 15 times Wolfe’s 2026 earnings per share estimate, a valuation that supports the firm’s continued Outperform rating on the stock.
In other recent news, Kirby Corporation has reported its third-quarter 2025 earnings, revealing results that surpassed forecasts. The company’s earnings per share (EPS) reached $1.65, slightly above the anticipated $1.64. Revenue also exceeded expectations, coming in at $871.16 million compared to the forecasted $848.9 million. These results have drawn attention from investors, highlighting Kirby’s performance in the recent quarter. Additionally, analysts have taken note of these developments, with some firms potentially reassessing their outlook on the company. Kirby’s financial results underscore its ability to perform above market predictions, which could influence future analyst evaluations. These updates contribute to a broader understanding of Kirby Corporation’s recent performance and market position.
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