Stifel downgraded NuStar Energy (NS) to Hold from Buy with a price target of $23, up from $20, after the company entered into a definitive agreement whereby Sunoco (SUN) will acquire NuStar in an all-equity transaction valued at approximately $7.3B.
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Read More on NS:
- NuStar Energy rises 15.1%
- NuStar Energy rises 12.8%
- NuStar Energy rises 15.8%
- M & A News: Sunoco (NYSE:SUN) Acquires NuStar (NYSE:NS) in $7.3B Deal
- Sunoco LP sees NuStar Energy acquisition immediately accretive
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