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Fly News Breaks for April 27, 2018
SUN
Apr 27, 2018 | 05:56 EDT
Jefferies analyst Christopher Sighinolfi downgraded Sunoco to Underperform and lowered his price target for the shares to $22 from $29. The analyst believes a 25% distribution cut and over $500M equity infusion is required in order for Sunoco to meet its 2019 leverage target of 4.5-4.75 times. Sighinolfi notes his 2019 EBITDA estimate is 15% below the Street.
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