Cowen Raises Price Target on U.S. Silica (SLCA) to $52 Following SandBox Review
- Wall St. falls as earnings from some big names disappoint
- General Motors (GM) Tops Q3 EPS by 28c
- Procter & Gamble (PG) Tops Q1 EPS by 5c
- DuPont (DD) Tops Q3 EPS by 14c; Boosts FY16 EPS Outlook; Says Continuing to Work with Regulators
- Pre-Open Stock Movers 10/25: (SAEX) (CWEI) (SWFT) Higher; (DPRX) (CRBP) (UA) Lower (more...)
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Cowen reiterated an Outperform rating on U.S. Silica Holdings (NYSE: SLCA), and raised the price target to $52.00 (from $42.00), following a comprehensive review of the company's new SandBox acquisition. Cowen views SandBox's true competitive advantage is to be a first mover. In order to exploit this advantage SLCA will need to aggressively invest and grow market share from 10% in today's ~30MM ton market to 20% of 2018's estimated 70MM ton market.
Analyst Marc Bianchi commented, "SandBox may afford SLCA a unique competitive advantage as frac sand volume surpasses the 2014 peak. While our estimates and target move higher, significant near term capex requirements and recent share price strength leave us waiting for more clarity on margin upside, or a pullback in the stock to get more aggressive."
Shares of U.S. Silica Holdings closed at $49.00 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UBS Raises Price Target on Zions Bancorp (ZION) to $29 Following 3Q EPS Beat
- NXP Semiconductors (NXPI) PT Raised at Oppenheimer Ahead of Earnings and Potential M&A
- T-Mobile (TMUS) PT, Estimates Raised at Jefferies
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesCowen & Co, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!