UPDATE: Jefferies Raises PT to $15 on Ship Finance International Limited on EPS Beat

Jefferies reiterated its Hold rating on Ship Finance International Limited SFL but raised its price target from $14 to $15 on the latest EPS beat. Jefferies noted, "This morning, Ship Finance reported adjusted 2Q12 EPS of $0.50, excluding one-time items, which easily exceeded Street consensus of $0.37 and our estimate of $0.43 primarily due to higher than expected cash sweeps from the revised profit sharing agreement with Frontline and lower than expected interest expense." Ship Finance International Limited closed at $15,78 on Tuesday.