Credit Suisse Starts Fairmount Santrol Holdings (FMSA) at Neutral
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Credit Suisse initiates coverage on Fairmount Santrol Holdings (NYSE: FMSA) with a Neutral rating and a price target of $7.00.
James Wicklund commented, "We initiate coverage with a Neutral rating and a $7 target price. Our revenue estimates are above consensus based on our bullish frac sand demand outlook. But our EBITDA estimates are in-line with consensus. We expect resin coated sand demand to continue to wane (relative to other proppants), of which FMSA is the largest supplier."
Shares of Fairmount Santrol Holdings closed at $7.97 yesterday.
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