UPDATE: Jefferies Reiterates Buy Rating, Lowers PT on StealthGas Following 2Q13 EPS Report

In a report published Wednesday, Jefferies analyst Douglas J. Mavrinac reiterated a Buy rating on StealthGas GASS, but lowered the price target from $16.00 to $14.00. In the report, Jefferies noted, “This morning, StealthGas reported 2Q13 adjusted EPS of $0.16 which was well below Street consensus of $0.26 and our estimate of $0.28. This was primarily due to weaker than expected average TCE charter rates earned during the quarter of $7,391 per day versus our estimate of $8,351 per day. Importantly, all other line items were more or less in-line with expectations.” StealthGas closed on Tuesday at $9.50.