RBC Capital anayst Kurt Hallead lowered his price target on U.S. Silica to $18 and kept his Sector Perform rating after its worse than expected results yesterday, saying the "frac sand supply curve is overshooting the demand curve" just as the frac sand demand wanes. The analyst also lowers his FY18 EPS view to $1.59 from $2.17 and FY19 to (33c) from 95c, anticipating more negative EBITDA revisions coming from pricing pressure becoming more prevalent in the coming quarters.
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