UPDATE: Dahlman Rose Downgrades Lufkin Industries to Hold on Valuation
In a report published Monday, Dahlman Rose downgraded its rating on Lufkin Industries (NASDAQ: LUFK) from Buy to Hold.
Dahlman Rose noted, “We are downgrading Lufkin to Hold from Buy. LUFK has appreciated 17% since our North American Upgrade report published November 19, 2012, and the stock is trading within 7% of our fair value estimate.”
Lufkin Industries closed on Friday at $61.41.
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