Kirby price target raised to $115 from $100 at BTIG

BTIG analyst Gregory Lewis raised the firm’s price target on Kirby to $115 from $100 and keeps a Buy rating on the shares. The firm notes that the inland spot barge pricing continues to melt higher in the low-mid single digits, which has pushed pricing for a two barge tow comfortably into the $9,500-$10,000 range, and has “plenty of room to run”. The strength in barge pricing looks to be supported by improving petrochemical volumes, which look to be up 3%-4% in Q1 vs. Q1 of last year, the analyst tells investors in a research note.