Citi upgraded Sunoco LP (SUN) to Buy from Neutral with a price target of $65, up from $54. The analyst cites several cash flow accretive transactions from the company for the upgrade. The January 11 transactions drive 25% of the target price increase and the NuStar Energy (NS) Acquisition drives the remaining 75% increase, the analyst tells investors in a research note. The firm views the NuStar Energy acquisition as transformative, saying it diversifies Sunoco ‘s cash flows, boosts its credit profile and trading liquidity, and opens up a wider array of investment options.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on SUN:
