UPDATE: Jefferies & Company Reiterates Buy Rating, Lowers PT on Thermon Group Holdings

In a report published Friday, Jefferies & Company reiterated its Buy rating on Thermon Group Holdings

, but lowered its price target from $29.00 to $27.00. Jefferies noted, “F2Q13 adjusted EPS from ops were up 33%, but below expectations. Core sales growth was +4%, which missed the mark on shipment timing and a slower US environment. We believe sales will accelerate in F2H13, but not to guidance level. We have lowered our estimates, but the tenets of our thesis are intact.” Thermon Group Holdings closed on Thursday at $22.90.