Goldman Sachs Maintains Top Rating on Eagle Materials (EXP) on Frac Sand Demand

Goldman Sachs analyst Waqar Syed reiterated a Conviction Buy List rating and $124 price target on Eagle Materials (NYSE: EXP) noting the company will benefit from Frac sand demand, which is the fastest growing part of the oilfield services sector benefiting from increased sand usage per frac stage.

"We project 49% growth in sand demand in 2014 from a 15% increase in horizontal rig count," Syed said. "For 2015, we project a 26% increase in sand demand from a 7% increase in horizontal rig count."

The firm likes Eagle Materials and Emerge Energy Services LP (NYSE: EMES) on the theme.

For an analyst ratings summary and ratings history on Eagle Materials click here. For more ratings news on Eagle Materials click here.

Shares of Eagle Materials closed at $104.73 yesterday.

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