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UPDATE: BMO Capital Markets Reiterates Outperform Rating, Lowers PT on CARBO Ceramics

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In a report published Friday, BMO Capital Markets reiterated its Outperform rating on CARBO Ceramics (NYSE: CRR), but lowered its price target from $110.00 to $85.00.

BMO Capital noted, “We believe that CARBO's shares are attractively valued at 14x 2013E EPS, well below the company's historical trading range. While cognizant of the near-term challenges, we believe CARBO's longer-term outlook is positive driven by continued frac-intensity increases in N.A. and international growth, which are not adequately reflected in the current valuation, in our view.”

CARBO Ceramics closed on Thursday at $71.74.

Latest Ratings for CRR

DateFirmActionFromTo
Nov 2014SunTrust Robinson HumphreyInitiates Coverage onNeutral
Oct 2014ISI GroupInitiates Coverage onHold
Oct 2014DA DavidsonMaintainsUnderperform

View More Analyst Ratings for CRR
View the Latest Analyst Ratings

Posted-In: BMO Capital MarketsAnalyst Color Price Target Analyst Ratings

 

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