U.S. Silica -4.2% as Jefferies cuts to Hold from Buy


U.S. Silica (SLCA -4.2%) is downgraded to Hold from Buy with a $31 price target, down from $41, at Jefferies, which says frac sand demand potential does not offset execution concerns at the company.

The firm says it is troubled by SLCA's lack of progress in managing logistics costs, implied lower than expected volumes of higher-grade sand, and an apparent lack of competitive advantage.

The firm lowers its 2014 and 2015 estimated EPS to $1.85 and $2.30, respectively, from $2.35 and $3.

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    brutal!
    4 Feb 2014, 04:31 PM Reply Like
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