) from Buy to Hold, and lowered the price target from $70.00 to $61.00. In the report, Wunderlich Securities noted, “We are downgrading shares of Hornbeck Offshore (HOS) to Hold from Buy and reducing our price target to $61 from $70. We have lowered our 2013 EPS estimate to $2.39 from $2.52 and reduced our 2014 EPS estimate to $3.62 from $4.58. Our decreased estimates stem from a less optimistic progression for dayrates for Hornbeck's new generation offshore support vessels in light of an influx of newbuild vessels in the US Gulf of Mexico which we believe will slow positive dayrate progression until 2H14.” Hornbeck Offshore Services closed on Thursday at $55.27.