Jefferies Starts Sunoco (SUN) at Buy

Jefferies initiates coverage on Sunoco (NYSE: SUN) with a Buy rating and a price target of $55.00.

Analyst Christopher Sighinolfi commented, "With a diverse geographic footprint, robust 2015E distribution coverage (~1.4x), and close affiliation with ETP, we believe SUN offers best-in-class exposure to US fuel distribution & marketing. While demand remains sensitive to product prices (lower prices bode well), we believe SUN's drop-down and acquire & exploit strategy will drive a ~12.5% distribution CAGR through 2019. We see a favorable risk/reward skew & are initiating with a $55 PT & Buy rating."

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

Shares of Sunoco closed at $45.28 yesterday.

You May Also Be Interested In

• B.Riley Resumes Magnite (MGNI) at Buy
• RBC Capital Starts Inspire Medical Systems (INSP) at Outperform
• Loop Capital Starts DoorDash Inc. (DASH) at Buy, 'Category Killer with Stellar Execution'