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Fly News Breaks for July 29, 2015
SLCA, FMSA
Jul 29, 2015 | 07:42 EDT
RBC Capital cut its price target on Fairmount (FMSA) based on a negative read through from U.S. Silica (SLCA) and its belief that frac sand providers are seeing lower fixed cost absorption. RBC thinks a recovery in frac sand pricing will be delayed until late 2016 or once frac service companies regain pricing power. However, the firm keeps an Outperform rating on Fairmount.
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