Deutsche Bank Starts Smart Sand (SND) at Buy
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Deutsche Bank initiated coverage on Smart Sand (NASDAQ: SND) with a Buy rating and a price target of $15.00.
Analyst Mike Urban said, "SND is a pure play, low cost Northern White raw frac sand producer. We believe the company's key differentiators are its scale and logistics as its Oakdale mine which, unlike many competitors, was designed with the needs of the modern oil & gas industry in mind. These advantages position SND for both low cost operation and scalable growth. SND will also be able to lean on its strong balance sheet, which is essentially debt free, to pursue both organic growth and future additional investments in production capacity and logistics for "last mile" delivery to customers in key basins."
Shares of Smart Sand closed at $12.18 yesterday.
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