Piper Jaffray analyst John Watson downgraded U.S. Silica Holdings to Neutral from Overweight with a price target of $5.50, down from $10.50. The analyst sees continued challenges in the frac sand market, as evidenced by the company's EBITDA miss in Q3 and guidance for declining results in Q4. Given U.S. Silica's balance sheet leverage and the prospect of "uninspiring" free cash flow over the coming quarters, a downgrade is warranted, Watson tells investors in a research note.
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Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
Check out this morning's top movers from around Wall Street, compiled by The Fly. HIGHER - U... To see the rest of the story go to thefly.com. See Story Here