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Strategies & Market Trends : Dino's Bar & Grill

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From: Goose94	11/15/2017 8:07:24 PM
	Read Replies (1) of 202841

Source Energy Services (SHLE-T) top pick from Eric Nuttall on BNN.ca Market Call Wednesday Nov 15th @ 1300ET Source is the largest and dominant provider of frac sand in Canada. Given extremely strong demand growth for frac sand (leading edge well designs = 50 per cent plus potential increase in 2017 average), we believe 2018 and 2019 consensus EBITDA for the company is too low. Allowing for only modest price increases in 2018, we believe the company can generate $172M in EBITDA and$95M in free cash flow versus consensus of $142M. This would have the stock trading at 4.0x 2018 and around 3.3x 2019 EBITDA versus U.S. peers at 4.7x, despite better underlying market fundamentals and significantly higher barriers to entry offering 50 per cent upside over the next year. Nov 13th 2017 - NR Source Energy Services Reports Record Performance in the Third Quarter web.tmxmoney.com

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