Global Hunter Securities Starts Lufkin Industries (LUFK) at Buy; Earnings Poised to Lift

Global Hunter Securities initiates coverage on Lufkin Industries (NASDAQ: LUFK) with a Buy. PT $68.00.

Global analyst said, "Lufkin is the premier name brand in artificial lift, specifically rod lift, a market that should benefit from strong secular growth. We believe that LUFK is a top way to play the substantial growth in rigs drilling for oil on land, both in the US and internationally, and expect it to come close to selling out its capacity for several years. We believe that the market has created an excellent opportunity to get into the stock and thus we are initiating coverage with a Buy."

For more ratings news on Lufkin Industries click here and for the rating history of Lufkin Industries click here.

Shares of Lufkin Industries closed at $52.33 yesterday.

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