Raymond James Believes Sunoco (SUN) Still Has Room to Grow
Raymond James analyst Justin Jenkins assigned a Buy rating to Sunoco (SUN) today and set a price target of $38.00. The company’s shares closed last Thursday at $35.93, close to its 52-week high of $36.86.
According to TipRanks.com, Jenkins is a 4-star analyst with an average return of 8.9% and a 61.5% success rate. Jenkins covers the Industrial Goods sector, focusing on stocks such as Enterprise Products Partners, Holly Energy Partners, and Crossamerica Partners.
Currently, the analyst consensus on Sunoco is a Strong Buy with an average price target of $36.20.
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Based on Sunoco’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.55 billion and net profit of $141 million. In comparison, last year the company earned revenue of $4.1 billion and had a net profit of $141 million.
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Sunoco LP engages in the management and distribution of fuel products. It operates through the Fuel Distribution, Marketing and Other segments. The motor Fuel Distribution segment supplies fuels and other petroleum products third-party dealers and distributors, independent operators of commission agent, other commercial consumers of motor fuel and to retail locations. The Marketing segment offer dealers the opportunity to participate in merchandise purchasing and promotional programs arranged with vendors. Other segment includes the Partnership’s retail operations in Hawaii and New Jersey, credit card services, and franchise royalties. The company was founded in June 2012 and is headquartered in Dallas, TX.