UPDATE: Jefferies Reiterates Hold Rating, Lowers PT on DryShips on 4Q12 EPS Loss

In a report published Friday, Jefferies reiterated its Hold rating on DryShips DRYS, but slightly lowered its price target from $2.50 to $2.00. Jefferies noted, “Yesterday after the market close, DryShips reported a 4Q12 EPS loss of $0.17, excluding one-time items, which was below both Street consensus of an EPS loss of $0.11 and our estimate of an EPS loss of $0.13 primarily due to higher than expected operating expenses in the Company's drilling subsidiary.” DryShips closed on Thursday at $1.98.