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Non-Tech : Lufkin Industries (Nasdaq: LUFK)
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To: Dave Hanson who wrote (41)3/22/1998 12:04:00 AM
From: Todd D. Wiener  Read Replies (1) of 103
 
From this weekend's Barrons:

Lufkin Industries (LUFK-NNM)
by Huberman Financial (31 1/4 , March 6)
We believe Lufkin's valuation at 10.8 times our estimated 1998
earnings per share is attractive, and its dividend of 72 cents provides a
reasonable yield of 2.3% in today's low-interest-rate environment.
Furthermore, the latest expansion in its share repurchase program
should somewhat limit the stock's downside. We believe the
retracement in Lufkin's stock since hitting a high of $40.50 on October
22 makes it increasingly attractive. Consequently, we reaffirm our
Strong Buy rating, with a $43 price target.

This makes 2 analysts with a STRONG BUY. Actually Huberman's been following LUFK for a while, but they're not very vocal about it. The consensus estimate of the 2 brokerage analysts is about $2.80 for FY98. I think LUFK can make $3.00 in 1998. My 1 year target is $50 and my 2 year target is $70, with a 2-for-1 stock split along the way (my price targets are pre-split).

If LUFK can break $33 this week on good volume, it may signify a breakout. The stock appears to have broken its downtrend. Now we have to see if it will move up or trend sideways. I recommend buying now.

I also strongly recommend purchase of THQI and NCES right now.

Todd
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