UPDATE: Jefferies Lowers PT on Ship Finance International Limited on 1Q13 Earnings Preview
In a report published Tuesday, Jefferies analyst Douglas J. Mavrinac reiterated a Hold rating on Ship Finance International Limited (NYSE: SFL), but slightly lowered the price target from $17.00 to $16.00.
In the report, Mavrinac noted, “Although we have been bearish on the outlook for the crude oil tanker market, crude oil tanker charter rates during 1Q13 were even weaker than expected resulting in reduced 1Q13 charter rate and EPS estimates. While we continue to expect crude oil tanker market conditions to remain weak through 2013 and 2014, we also expect the refined products tanker market to continue to strengthen through 2013 and 2014.”
Ship Finance International Limited closed on Monday at $15.95.
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