Monday, June 25, 2012

Stock Alert - BofA/Merrill Lynch Downgrades Kirby Corporation (KEX) to Neutral - 6/25/12

BofA Merrill downgrades Kirby (KEX -11.7%) shares to Neutral from Buy and lowers its price target to $56 from $69 after the tank barge operator lowered earnings estimates for Q2 and FY 2012, noting softness in its land-based diesel engine services business. Jefferies cuts its price target and estimates.

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