Sunoco LP (SUN)

[911]

Sweet Candy Baby Buyback.Hod 36.39.DY 1.75..Rock On.

MARKET TALK: Sunoco Rallies As Macquarie Goes Willy Wonka
1 hours 32 minutes ago - DJNF

11:52 (Dow Jones) Sunoco (SUN) is among the leading energy companies in the S&P 500, with it and utilities the best-performing sectors in the index as oil prices continue to rebound. Macquarie upgrades the refiner to buy and goes on a Willy Wonka riff, referring to SUN's corporate strategy in the same vein as the fictionalized candymaker--"expelling assets at every turn like overbearing children that have miserably failed internal tests of will." But it says the streamlining, which includes last month's spinoff of steel-coke company SunCoke (SXC), is set to benefit SUN shareholders as excess cash gets used for things like stock buybacks. Cash makes up some 2/3 of SUN's current stock price, notes Macquarie. Shares gain 5.6% to $36.23. ([e-mail])
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