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Fly News Breaks for January 9, 2018
SUN
Jan 9, 2018 | 05:24 EDT
JPMorgan analyst Andrew Burd upgraded Sunoco L.P. to Overweight and raised his price target for the shares to $34 from $31. The analyst estimates Sunoco will save $290M on its pending 7-Eleven sale tax bill versus prior expectation following the U.S. tax reform. He expects the company invests the savings in additional unit repurchases that will boost distribution coverage. The analyst views the current dividend yield as secure.
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