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Sunoco, NuStar Acquisition Concerns ‘Do Not Justify Stock’s Underperformance’: Analyst

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Sunoco LP (NYSE:SUN) reported strong results for the first quarter.

The stock has underperformed since March, down 22%, despite the company’s “fundamental tailwinds,” according to Mizuho Securities.

The Sunoco Analyst: Gabriel Moreen upgraded the rating for Sunoco from Neutral to Buy. Moreen also raised the price target from $60 to $59.

The Sunoco Thesis: While there were some concerns around the NuStar acquisition being a good fit for Sunoco’s fuel distribution footprint, this does not justify the …

Full story available on Benzinga.com

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