Barclays Maintains Overweight on Sunoco, Lowers Price Target to $50
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Theresa Chen has maintained an Overweight rating on Sunoco (NYSE:SUN) but lowered the price target from $51 to $50.
August 14, 2023 | 11:25 am
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NEUTRAL IMPACT
Barclays has maintained an Overweight rating on Sunoco but lowered the price target from $51 to $50, which may impact the stock's performance.
While the Overweight rating indicates that Barclays still sees Sunoco as a good investment, the lowering of the price target could potentially lead to a decrease in the stock's price as it suggests that Barclays believes the stock is currently overvalued. However, the impact may be neutral in the short term as the decrease in the price target is minimal.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100