Shares of U.S. Silica (NYSE:SLCA) soared today, which can be attributed to an analyst upgrade. Derek Podhaizer of Barclays changed his rating from Sell to Hold while assigning a price target of $17 per share, which was unchanged from last time.
Podhaizer pointed to “significant deleveraging” and several impressive quarters as reasons for the upgrade. He also noted that the company’s 2023 EBITDA guidance growth of 20% to 25% is likely conservative. Therefore, the company has the potential to surprise to the upside.
Overall, Wall Street analysts have a consensus price target of $17.75 on SLCA stock, implying 33.16% upside potential, as indicated by the graphic above.
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