U.S. Silica (SLCA) PT Raised to $69 at Jefferies

Jefferies analyst Brad Handler reiterated a Buy rating and boosted his price target on U.S. Silica Holdings (NYSE: SLCA) to $69.00 (from $54.00)

Handler said, "We applaud the Cadre acquisition as it provides (1) a Permian platform with expansion potential, (2) incremental product diversification, and (3) meaningful EPS accretion (and we raise 2014/2015E EPS to $1.95/$3.25 from $1.90/$3.10). Separately, we also raise normalized year volume assumptions. The combined impact is to raise our PT to $69 from $54. Broadly, we remain attracted to SLCA’s volume and potentially distribution-based growth avenues."

The firm raised FY 2014 EPS from $1.90 to $1.95 and FY 2015 EPS from $3.10 to $3.25.

For an analyst ratings summary and ratings history on U.S. Silica Holdings click here. For more ratings news on U.S. Silica Holdings click here.

Shares of U.S. Silica Holdings closed at $57.52 yesterday.

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