NuStar Energy upgraded to Equal Weight from Underweight at Wells Fargo

Wells Fargo upgraded NuStar Energy (NS) to Equal Weight from Underweight with a price target of $21, up from $18, after the company entered into a definitive agreement whereby Sunoco (SUN) will acquire NuStar in an all-equity transaction valued at approximately $7.3B, including assumed debt. The firm views the merger as positive for both companies.