UPDATE: Jefferies & Company Reiterates Hold Rating, Lowers PT on DryShips

In a report published Friday, Jefferies & Company reiterated its Hold rating on DryShips

, but slightly lowered its price target from $2.50 to $2.00. Jefferies noted, “Yesterday after the market close, DryShips reported a 3Q12 EPS loss of $0.09, excluding one-time items, which was below both Street consensus of an EPS loss of $0.02 and our estimate of an EPS loss of $0.03 primarily due to higher than expected operating costs at the Company's Ocean Rig subsidiary.” DryShips closed on Thursday at $2.08.