Citi downgraded Sunoco LP (SUN) to Neutral from Buy with an unchanged price target of $65. The analyst cites valuation for the downgrade following the stock’s outperformance since the NuStar (NS) deal announcement. Sunoco LP has largely closed the valuation gap since the deal announcement, the analyst tells investors in a research note. The firm sees a balanced risk/reward at current share levels.
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Read More on SUN:
- Energy Transfer, Sunoco sign multi-year pact with Stake F1 Team KICK Sauber
- Sunoco LP downgraded to Hold from Buy at Stifel
- Sunoco LP price target raised to $61 from $60 at Wells Fargo
- Sunoco LP sees FY24 adjusted EBITDA $975M-$1B
- Sunoco LP reports Q4 EPS ($1.50), consensus $1.13
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