UPDATE - Barclays Downgraded Sunoco (SUN) to Equalweight, Citing SXC Spin-Off
Tweet Send to a FriendGet Alerts SUN Hot Sheet
Price: $46.75 --0%
Rating Summary:
1 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
1 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade SUN Now!
UPDATE - Barclays downgraded Sunoco (NYSE: SUN) from Overweight to Equalweight, price target cut from $46 to $37.
Barclays analyst, Paul Y. Cheng, siad, "After nearly 18 months since Sunoco first announced plans to separate its coke operation, the company has completed the long-awaited step with the successful distribution of SUN's remaining SunCoke Energy (NYSE: SXC) shares to its shareholders on January 17, 2012...Although we think SUN's potential actions will be greeted positively by the market, upside potential now appears somewhat limited."
Cheng also thinks SUN could approve another stock buyback or further separate the retail and logistics into two companies. However, Cheng no longer see as much upside potential in the stock as before.
To see more ratings on SUN, Click Here
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Barclays analyst, Paul Y. Cheng, siad, "After nearly 18 months since Sunoco first announced plans to separate its coke operation, the company has completed the long-awaited step with the successful distribution of SUN's remaining SunCoke Energy (NYSE: SXC) shares to its shareholders on January 17, 2012...Although we think SUN's potential actions will be greeted positively by the market, upside potential now appears somewhat limited."
Cheng also thinks SUN could approve another stock buyback or further separate the retail and logistics into two companies. However, Cheng no longer see as much upside potential in the stock as before.
To see more ratings on SUN, Click Here
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: MKM Partners Downgrades Alkermes (ALKS) to Sell
- BMO Capital Downgrades Nordson (NDSN) to Market Perform
- Janney Montgomery Scott Downgrades Cubist Pharmaceuticals (CBST) to Neutral
Create E-mail Alert Related Categories
DowngradesRelated Entities
Barclays, Stock Buyback
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
