Jefferies Lowers Numbers on North American Energy Partners (NOA)

Jefferies lowered estimates and its price target on Hold-rated North American Energy Partners (NYSE: NOA) from $6.25 to $5.50. The firm maintained a Hold rating.

"We are lowering our estimates following what appears to have been one of the warmest winter periods in the oil sands region in quite some time. On a positive note, the final settlement with CNRL and a new agreement with lenders appears to reduce pressure on debt covenants for now."

FY12 EPS goes from C$0.40 to C$0.35 and FY13 goes from C$0.55 to C$0.50.

For an analyst ratings summary and ratings history on North American Energy Partners click here. For more ratings news on North American Energy Partners click here.

Shares of North American Energy Partners closed at $4.56 yesterday.

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