UPDATE: Jefferies Reiterates Buy Rating, Lowers PT on Golar LNG Limited Following 2Q13 EPS Report

In a report published Friday, Jefferies analyst Douglas J. Mavrinac reiterated a Buy rating on Golar LNG Limited GLNG, but lowered the price target from $47.00 to $46.00. In the report, Jefferies noted, “This morning, Golar reported 2Q13 EPS of $0.14, excluding one-time items, which was below both Street consensus of $0.22 and our estimate of $0.29 primarily due to higher vessel operating expenses and G&A expenses as the Company ramps up its crew for newbuilding deliveries and spends on FLNG project FEED studies.” Golar LNG Limited closed on Thursday at $38.49.