In a note to clients Sam Margolin of Cowen & Co argued that the recent pullback in the price of the US owner’s New York-quoted stock presents a unique opportunity.
The forecaster, who attributed the retreat to fears that crude prices will threaten the marginal cost of production, said he sees a number of near-term catalysts on the horizon.
Margolin believes the upcoming activation of two Texas pipelines bodes well for Kirby as this will likely lend support to rates for tonnage operating in the US Gulf.
“The
