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.
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Read More on NS:
- M & A News: Sunoco (NYSE:SUN) Acquires NuStar (NYSE:NS) in $7.3B Deal
- Sunoco LP to Acquire NuStar Energy L.P. in Transaction Valued at $7.3 Billion
- NuStar Energy price target raised to $20 from $19 at Barclays
- NuStar Energy downgraded to Underweight from Neutral at JPMorgan
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