UPDATE: UBS Upgrades Hi-Crush Partners LP (HCLP) to Neutral

(Updated - September 28, 2016 8:11 AM EDT)

UBS upgraded Hi-Crush Partners LP (NYSE: HCLP) from Sell to Neutral with a price target of $15.00 (from $9.00). Analyst Shneur Z. Gershuni said trends point to favorable outlook for sand demand.

Gershuni explained, "Recent commentary from oil field service companies and E&Ps continue to highlight an increase in sand demand and intensity. Many have alluded to the additional barrels of oil/pound of sand injected; however we have yet to see that translate into earnings for HCLP, but expect to see an uptick in vols of sand sold in 2H16 with a larger increase in '17E. HAL recently noted increased demand for sand and that its sand vols today are almost near its '14 peak levels. HCLP also recently announced the re-start of its Augusta facility's dry plant. That said we do not expect the facility to initially run at 50% capacity, but see it as a sign of visibility towards increasing vols and believe that due to its location on the UP and access to the Permian, it will better service certain customers."

For an analyst ratings summary and ratings history on Hi-Crush Partners LP click here. For more ratings news on Hi-Crush Partners LP click here.

Shares of Hi-Crush Partners LP closed at $14.46 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Citi Upgrades United Microelectronics Corp (2303:TT) (UMC) to Buy 'with limited downside'
• KKR Real Estate Financial Trust (KREF) PT Lowered to $12 at JMP Securities
• Owens Corning (OC) PT Raised to $172 at Evercore ISI