Cowen believes the acquisition of Lufkin (LUFK) by General electric (GE) bodes well for its top pick Weatherford International (WFT). The firm believes the offer could spur some buying on a sum-of-the-parts valuation of Weatherford as the comparable nature of Lufkin's business lines suggests Weatherford is undervalued. Shares of Weatherford are Buy rated with an $18 price target.
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