UPDATE: Stifel Upgrades Emerge Energy Services on Expected Growth Driver
In a report published Friday, Stifel analyst Selman Akyol upgraded the rating on Emerge Energy Services LP (NYSE: EMES) from Hold to Buy, and reiterated the $44.00 price target.
In the report, Stifel noted, “Emerge Energy Services LP began operations as a publicly traded partnership on May 14, 2013. We continue to believe the sand operations will be the growth driver for the partnership through FY14 as it focuses on filling the capacity at its Barron facility (brought online at the end of 4Q12). During the quarter, we estimate production grew approximately 55,000 tons to 344,000 tons at its Barron facility. Additionally, we believe pricing remains firm for at least the next year as the partnership benefits from high demand for its sand.”
Emerge Energy Services LP closed on Thursday at $40.01.
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