Mizuho raised the firm’s price target on Sunoco LP (SUN) to $66 from $61 and keeps an Outperform rating on the shares. The firm believes Sunoco remains undervalued given its “strong prospects” for adjusted EBITDA growth in fuel distribution, a “higher-quality” base business via its NuStar acquisition that has still not been credited, and improved scale and balance sheet.
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Read More on SUN:
- Sunoco Announces Increased Quarterly Cash Distribution
- Sunoco LP raises quarterly distribution 1.25% to 88.65c per unit
- Supreme Court denies bid by oil firms to end Honolulu’s suit, Reuters says
- Sunoco LP price target lowered to $59 from $63 at Barclays
- Sunoco LP price target raised to $63 from $60 at Barclays
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