UPDATE: Jefferies & Company Reiterates Hold Rating, Lowers PT on Worthington Industries

In a report published Friday, Jefferies & Company reiterated its Hold rating on Worthington Industries WOR, but lowered its price target from $26.00 to $24.00. Jefferies noted, “Post 1Q13, our view is unchanged; we continue to see WOR well positioned within our coverage, though advise investors to seek a more attractive entry point following the stock's recent meaningful outperformance against peers. We've trimmed estimates/TP to factor in lower volume growth and reduced JV income in light of a weaker economic backdrop. We remain encouraged about WOR's ongoing internal transformation and growth efforts.” Worthington Industries closed on Thursday at $22.19.