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UPDATE: Morgan Stanley Upgrades Carbo Ceramics to Equal-Weight

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UPDATE: Morgan Stanley Reiterates on Carbo Ceramics on Key Way to Play Conductivity Theme in 2014 and Beyond
UPDATE: Guggenheim Securities Reiterates on CARBO Ceramics as Acceleration of Ceramic Demand and New Product Cycle Bode Well

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.

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

 

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