Sunoco LP downgraded to Hold from Buy at Stifel

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.