UPDATE: Pritchard Capital Partners Lowers PT on Tidewater Inc. to $65

According to a research report this morning, Capital Partners decreases its PT on Tidewater

from $68 to $65 as a big upside over FY2012 is expected. Pritchard Capital Partners stated, “To factor in TDW's Q1 guidance and some additional wage cost inflation, we are bringing our 2013 EPS estimate to $4.70 down from $4.80. We are deriving our new target price of $65 (down from $68 previously) using a PE multiple of 14x on our 2013 estimate which is within the historic range.” Tidewater closed yesterday at $45.74 as Pritchard Capital Partners maintains its Buy rating.