SunCoke Energy (SXC) Coke MLP IPO Filing Fater Than Expected, Oppenheimer Boosts Target

August 9, 2012 9:40 AM EDT
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Price: $10.92 -2.67%

Rating Summary:
    7 Buy, 2 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 6 | Down: 10 | New: 6
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Oppenheimer boosted their price target on Outperform-rated SunCoke Energy (NYSE: SXC) from $18 to $19 after filing an S-1 for Coke MLP.

"Moving faster than expected on the coke MLP, SXC filed the information statement less than three weeks after board approval. SXC plans to raise $300M in an IPO and $150M in debt for the MLP. We applaud this value-creating move," the analyst comments.

For an analyst ratings summary and ratings history on SunCoke Energy click here. For more ratings news on SunCoke Energy click here.

Shares of SunCoke Energy closed at $16.79 yesterday.

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