- Frac sand producers Hi-Crush Partners (HCLP +4.5%) and U.S. Silica (SLCA +1.2%) are both upgraded to Buy from Hold at Jefferies, which assumes that sand demand in 2020 is 60% higher than the peak rate set at the end of 2014.
- Jefferies believes the companies are poised from sand demand growth over the next several years, and that number of completion stages will be 40% above the 2014 cycle peak rate.
- The firm raises its price target for HCLP to $20 from $6 and for SLCA to $41 from $25.