Dahlman Rose Starts Lufkin Industries (LUFK) at Buy; Benefit From Booming Oil Activity

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Dahlman Rose initiates coverage on Lufkin Industries (NASDAQ: LUFK) with a Buy. PT $96.00.

Analyst, Doug Garber, said, "We believe there could be upside to EPS from further price increases in artificial lift. The company’s guidance incorporates the current price increases that are rolling through backlog. We believe further price increases later in the year could lead to margin expansion and higher guidance ranges going forward. Despite operational shortfalls in 2011, if efficiencies are successful in 2012, there could be additional margin expansion."

For an analyst ratings summary and ratings history on Lufkin Industries click here. For more ratings news on Lufkin Industries click here.

Shares of Lufkin Industries closed at $77.59 yesterday, with a 52 week range of $42.10-$97.05.

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