UPDATE: Jefferies & Company Reiterates Hold Rating, Lowers PT on DryShips
In a report published Friday, Jefferies & Company reiterated its Hold rating on DryShips (NASDAQ: DRYS), 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.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.