Credit Suisse Starts Smart Sand (SND) at Outperform
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Credit Suisse initiates coverage on Smart Sand (NASDAQ: SND) with a Outperform rating and a price target of $14.00.
Analyst James Wicklund commented, "Sand is much more of an investment than a trade in this OFS cyclical recovery. Pounds per foot and the lateral length of horizontal well sections continue to expand and improve the economics of unconventional drilling. It is much more than owning a mine. There is significant value in high-speed unit train loading capability, Class I rail access, cornerstone customers, favorable product mix, and other factors."
Shares of Smart Sand closed at $12.39 yesterday.
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