Story
Kirby Stock Surges on Analyst Upgrades and Strong Outlook
Summary
Shares of Kirby Corporation (KEX) climbed significantly after BofA Securities raised its price target and Stephens initiated coverage with a positive rating. The upgrades highlight favorable conditions in the inland barge market and growth in the company's power generation division.
Shares of Kirby Corporation (NYSE: KEX) surged in morning trading, rising over 6% to an intraday high of $144.36. The rally occurred in contrast to the broader U.S. stock market, which saw major indices like the S&P 500 and Dow Jones trading in negative territory.
The primary catalyst for the stock's upward movement was a positive note from BofA Securities, which reiterated its "Buy" rating and increased its price target on Kirby shares to $182 from $169. The bank cited accelerating momentum for inland marine rates and a Power Generation segment backlog that has surpassed $1 billion as key factors driving its optimistic outlook.
Adding to the positive sentiment, investment firm Stephens initiated coverage on Kirby with an "Overweight" rating. Following these actions, the analyst community is now unanimously positive on the stock, with no outstanding "Hold" or "Sell" ratings reported.
AdThe analyst optimism is supported by the company's recent performance. In late April, Kirby reported first-quarter 2026 earnings of $1.50 per share, which exceeded consensus estimates. Subsequently, management raised its full-year 2026 earnings guidance, projecting growth of 5% to 15%, up from a previous range of flat to 12% growth.