November 14, 2017 / 1:07 PM / in a year

BUZZ-Evercore ISI 'bullish' on frac sand sector

** Evercore ISI says it is “bullish” on frac sand sector on better-than-expected pricing

** Not only has pricing not leveled off, it has in fact risen across all grades in Q3 and that coarse graded sand could be approaching $40 from $30 range - Evercore ISI

** In last 3 months; Fairmount Santrol Holdings up ~76 pct, U.S. Silica Holdings ~41 pct, Smart Sand ~66 pct, Hi Crush Partners LP ~25 pct, Emerge Energy Services ~48 pct

** Brokerage raises PTs by $1 on FMSA, SLCA & SND and updates 2018 & 2019 EBITDA estimates for FMSA, SLCA, SND, HCLP & EMES by avg of 6.3 pct and 1.4 pct

** Evercore ISI also thinks Canada’s demand for Northern White sand shouldn’t be ignored, with Source Energy Services expecting sales volumes to double in 2018 (Reporting by John Benny in Bengaluru)

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