Jefferies Starts Smart Sand (SND) at Buy

Jefferies initiates coverage on Smart Sand (NASDAQ: SND) with a Buy rating and a price target of $18.00.

Analyst Brad Handler commented, "We are very optimistic regarding the demand prospects for frac sand over the next 3+ years, and SND owns a high quality asset that gives visibility to a potential tripling of its current capacity of low cost, northern white sand. Our estimates reflect over 60% CAGR in EBITDA from 2016 to 2020 and we believe below-peer valuation reflects only a portion of the company's volume growth potential."

For an analyst ratings summary and ratings history on Smart Sand click here. For more ratings news on Smart Sand click here.

Shares of Smart Sand closed at $13.90 yesterday.

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