UPDATE: Dahlman Rose Downgrades Newpark Resources to Hold on Valuation
In a report published Monday, Dahlman Rose downgraded its rating on Newpark Resources (NYSE: NR) from Buy to Hold.
Dahlman Rose noted, “We are downgrading Newpark Resources to Hold from Buy. NR has appreciated 21% since our North American Upgrade report published November 19, 2012, and the stock is currently trading within 14% of our fair value estimate. Our fair value estimate is $10 per share.”
Newpark Resources closed on Friday at $8.75.
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