UPDATE: Dahlman Rose Downgrades Newpark Resources to Hold on Valuation

In a report published Monday, Dahlman Rose downgraded its rating on Newpark Resources

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.