Jefferies Maintains a 'Buy' on Ultrapetrol (ULTR); Raising Estimates on Attractive PSV Contracts

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

Analyst, Douglas J. Mavrinac, said, "On Wednesday at the Jefferies Global Shipping Conference, Ultrapetrol announced new contracts with Petrobras (NYSE: PBR) for three of the Company's PSVs in addition to winning tenders for four more, including two newbuilds to be delivered by the end of the year."

FY12 EPS estimate lifted from (0.70) to (0.68) and FY13 raised from $0.24 to $0.29.

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 $0.86 yesterday.

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