Barclays Maintains an 'Equalweight' on Sunoco Logistics Partners (SXL); Updating Estimates for 3-1 Unit Split

Barclays maintains an 'Equalweight' on Sunoco Logistics Partners (NYSE: SXL) price target of $33.00.

Barclays analyst said, "Adjusting price target and EPU estimates to reflect recent split. Following the recent 3-for-1 unit split, our new price target is $33 vs. $99 previously. Our $33 price target is based on a 12-month distribution run rate of $1.77 (previously $5.32) and 5.4% target yield (unchanged). We are revising our 2011/2012 EPU estimates from $7.42/$6.35 to $2.48/$2.15. SXL has 103.3 mm total units outstanding (including Class A) vs. 34.4MM units pre-split. Of the total units outstanding, the public owns 67.5% and the general partner owns 32.5%."

For an analyst ratings summary and ratings history on Sunoco Logistics Partners click here. For more ratings news on Sunoco Logistics Partners click here.

Shares of Sunoco Logistics Partners closed at $35.06 yesterday.

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