GulfMark Offshore, Inc.’s (GLF) Price Target Lowered

Jefferies & Company, Inc. has lowered the price target for GulfMark Offshore, Inc. (NYSE: GLF) from $29 to $26.

According to Jefferies, although offshore drilling activity levels are beginning to pick up in two of the company’s core markets, the dayrate environment remains uncertain for the rest of this year.

The company has reported EPS of $0.15 for the fourth-quarter, which is below Jefferies’ estimate of $0.47.

Jefferies continues to rate GulfMark Offshore, Inc. as a Hold.