Wells Fargo raised the firm’s price target on Sunoco LP (SUN) to $60 from $54 and keeps an Equal Weight rating on the shares. The price target increase reflects accretion from the NuStar Energy (NS) acquisition, the analyst tells investors in a research note. The firm thinks management’s financing synergy estimates are likely conservative.
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Read More on SUN:
- Sunoco LP Maintains Quarterly Distribution
- Sunoco LP upgraded to Buy from Neutral at Citi
- NuStar Energy downgraded to Hold from Buy at Stifel
- Sunoco LP falls -6.7%
- Sunoco LP falls -9.6%
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