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Analyst Ups Sunoco Price Target On Long-term View

Stock quotes in this article: HOC , SUN  

NEW YORK (AP) — An analyst raised his price target for Sunoco Inc. Thursday, citing long-term opportunities but warning of a weak near-term outlook for the oil refiner.

Bernstein Research analyst Neil McMahon lifted his share price target to $29 from $26, maintaining a "Market Perform" rating. He said the company's stock appears to be trading at a slight discount to its U.S. and European peers, but its financial performance is close to the group average.

Depressed steel and chemical markets will hurt the company's coke and chemicals division in the near term, he said. ...

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