Stifel analyst Selman Akyol downgraded Sunoco LP to Hold from Buy with an unchanged price target of $62 after the company posted Q4 results above the firm’s estimates and reiterated its FY24 adjusted EBITDA guidance, which does not include the NuStar acquisition, although the firm’s valuation does. The company reported a “good quarter” and positive outlook, but the stock’s valuation reflects it, the analyst tells investors.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on SUN:
- Sunoco LP sees FY24 adjusted EBITDA $975M-$1B
- Sunoco LP reports Q4 EPS ($1.50), consensus $1.13
- Sunoco LP Announces Fourth Quarter and Full Year 2023 Financial and Operating Results
- SUN Earnings this Week: How Will it Perform?
- NuStar Energy price target raised to $24 from $17 at Mizuho
Questions or Comments about the article? Write to editor@tipranks.com