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Wells Fargo Starts U.S. Silica Holdings (SLCA) at Outperform

June 17, 2013 8:22 AM EDT Send to a Friend
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Price: $42.26 --0%

Rating Summary:
    9 Buy, 3 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Wells Fargo initiated coverage on U.S. Silica Holdings (NYSE: SLCA) with an Outperform rating and a price target of $27.00. Analyst Matthew D. Conlan thinks growing sand volume will drive increased profits.

"We envision SLCA's profits rising with a robust expansion of SLCA's northern white frac sand production, which we believe will be absorbed by the market as it grows well in excess of the rig count. Additionally, we judge SLCA to have a low-cost operating structure at the mine site as well as superior supply chain logistics, both of which should boost margins above competitors', said Conlan.

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 $21.29 yesterday.




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