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Sunoco Looks Attractive: Analyst Cites Pullback, Upcoming Guidance As Catalysts

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Stifel analyst Selman Akyol upgraded Sunoco LP (NYSE:SUN) to Buy from Hold and maintained a price target of $62.00.

The analyst writes that Sunoco’s unit price has dropped by 13% since mid-February, presenting an attractive re-entry point.

Akyol notes that management’s upcoming guidance, expected around second-quarter FY24 earnings, could catalyze the unit price.

This guidance will likely offer a comprehensive update on the 2024 outlook for its legacy business, NuStar assets, and potential synergies, stated analyst.

While the analyst do not …

Full story available on Benzinga.com

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