StealthGas maintains Buy rating at Jefferies

|By:, SA News Editor

Jefferies cuts its earnings estimates and price target to $14 from $16 for StealthGas (GASS +1.7%) but maintains a Buy rating following Q2 earnings that fell far short of estimates.

The miss was due mostly to weaker than expected average TCE charter earned during the quarter of $7,391/day vs. expectations of $8,351/day but all other line items were in-line, the firm says.

Shares are bouncing back a bit in early trading after yesterday's near-10% drubbing.