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UPDATE: Morgan Stanley Upgrades Carbo Ceramics to Equal-Weight

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Morgan Stanley raised its rating on Carbo Ceramics (NYSE: CRR) from Underweight to Equal-weight and raised its price target from $55 to $80.

Morgan Stanley noted, "As a consumable, ceramic proppant could be an attractive way to play structural bifurcation of footage drilled vs. rig count growth. 3Q appears to alleviate “doomsday” concerns driving the CRR short thesis, and we now expect multiple re-rating for the stock; raising our PT to $80 from $55."

Carbo Ceramics closed at $61.00 on Wednesday.

Latest Ratings for CRR

DateFirmActionFromTo
Sep 2014Goldman SachsDowngradesNeutralSell
Sep 2014KeyBancInitiates Coverage onHold
Jul 2014Guggenheim SecuritiesUpgradesSellNeutral

View More Analyst Ratings for CRR
View the Latest Analyst Ratings

Posted-In: Morgan StanleyAnalyst Color Upgrades Intraday Update Analyst Ratings

 

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