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Fly News Breaks for February 21, 2019
SUN
Feb 21, 2019 | 20:03 EDT
MUFG analyst Barrett Blaschke raised his price target on Sunoco to $33 after its Q4 EBITDA and distribution coverage came in ahead of expectations but keeps his Neutral rating, noting that the growth in distribution is "not there". The analyst also points to the company's high leverage of 4.16-times vs. the investors' preferred mid-3-times or better. Based on the management's goals, Blasche believes that Sunoco's flat distribution policy is prudent.
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