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.
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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.
