Seeking Alpha

Emerge Energy upgraded at Baird even after strong YTD run

  • Emerge Energy Services (EMES +5.6%) is upgraded to Outperform from Neutral with an $85 price target, up from $50, at Baird as EMES increases production capacity by almost 70%.
  • Baird sees substantial, high probability distribution growth potential from $110M in new facilities coming on-line from now through Q1 2015, which have under current sand pricing scenarios the ability to produce more than $10/unit in distributions. Despite an enormous run, firm sees further upside potential as mgmt increases production capacity by almost 70%.
  • Shares have surged 18% this week and 54% YTD.
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