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Non-Tech : Lufkin Industries (Nasdaq: LUFK)
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To: Steve Hufnagle who wrote (53)4/10/1998 1:45:00 AM
From: Todd D. Wiener  Read Replies (1) of 103
 
LUFK may be breaking out of the doldrums. The downtrend is certainly history, and a new uptrend appears to be forming. The volume is not yet great, but that's typical of this stock. Earnings should be released in the next week or so, and I expect the company to beat estimates of $.60. If so, the stock could trade at $40 without any change in trailing P/E. In fact, a decent earnings surprise, in conjunction with an encouraging outlook for 1998, could propel the stock to its old highs around $40 before pulling back to the mid-30s.

I've a year-end target of $50.

Todd
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