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In a report published Wednesday, Morgan Stanley analyst Ole Slorer reiterated an Equal-Weight rating on
Carbo CeramicsCRR, and raised the price target from $73.00 to $123.00.
In the report, Morgan Stanley noted, “As a provider of consumable proppants, CRR benefits in our view from the ongoing bifurcation in footage drilled relative to rig count growth. Additionally, we expect US onshore E&Ps to increase their focus on optimizing well results, and we see CRR's ceramic proppants benefitting.”
Carbo Ceramics closed on Tuesday at $111.62.
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