Sunoco LP price target raised to $60 from $54 at Wells Fargo

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.