- Hi-Crush Partners (HCLP +0.3%) is upgraded to Neutral from Sell with a $15 price target, raised from $9, at UBS, which says recent commentary from Halliburton and other oilfield service companies and E&Ps continue to highlight an increase in sand demand and intensity.
- The firm says it has not yet seen those statements translate into earnings for HCLP but expects to see an uptick in volumes of sand sold in H2 with a larger increase in 2017.
- HCLP recently announced the re-start of its Augusta facility's dry plant; UBS says it does not expect the facility to initially run at 50% capacity, but sees the news as a sign of visibility toward increasing volumes.