Jefferies Maintains a 'Buy' on Ultrapetrol (ULTR); Shipyard Providing Positive Catalyst

Jefferies maintains a 'Buy' on Ultrapetrol (NASDAQ: ULTR) price target of $2.00 (from $3.00).

Analyst, Douglas J. Mavrinac, said, "Yesterday after the market close, Ultrapetrol reported an adjusted 2Q12 EPS loss of $0.27 which was below our estimate of an EPS loss of $0.20 primarily due to higher than expected interest and vessel operating expenses incurred during the quarter."

Jefferies raises Q3 EPS estimate from (0.09) to (0.06), but lowers FY12 EPS estimate from (0.63) to (0.70).

For an analyst ratings summary and ratings history on Ultrapetrol click here. For more ratings news on Ultrapetrol click here.

Shares of Ultrapetrol closed at $0.77 yesterday.

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