UPDATE: Dahlman Rose Downgrades Lufkin Industries to Hold on Valuation

In a report published Monday, Dahlman Rose downgraded its rating on Lufkin Industries

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.