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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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