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Fly News Breaks for September 20, 2018
SLCA
Sep 20, 2018 | 07:30 EDT
As reported earlier, RBC Capital analyst Kurt Hallead downgraded U.S. Silica to Sector Perform from Outperform and lowered his price target to $24 from $36. The analyst cites the frac sand supply curve overshooting that of the demand and expects pricing pressure to become more prevalent now that frac activity is beginning to slow. In turn, Hallead anticipates U.S. Silica's EBITDA estimates to turn lower, also cutting his FY18 EPS target to $2.35 from $2.90 and FY19 to $1.18 from $3.90.
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