David Grzebinksi-led Kirby Corp has received a bullish assessment from Wells Fargo, despite a modest cyclical recovery.

Analyst Michael Webber has upgraded shares for the New York-listed company to outperform from market perform, based on four positive factors.

He pushed up the price target to $83 from $61.

Webber said Wells Fargo expects its primary year-over-year inland comps to get "considerably easier."