UPDATE: Jefferies Raises PT on Eagle Bulk Shipping on 4Q12 EPS Loss

In a report published Wednesday, Jefferies analyst Douglas J. Mavrinac reiterated a Hold rating on Eagle Bulk Shipping EGLE, and slightly raised the price target from $2.50 to $3.50. In the report, Mavrinac noted, “Eagle Bulk reported a 4Q12 EPS loss of $1.92 which was modestly better than both Street consensus of an EPS loss of $1.93 and our estimate of an EPS loss of $2.27 primarily due to better than expected charter rates earned during the quarter and lower than expected G&A expenses incurred during the quarter.” Eagle Bulk Shipping closed on Tuesday at $3.31.