Sunoco LP price target raised to $68 from $66 at Mizuho

Mizuho raised the firm’s price target on Sunoco LP (SUN) to $68 from $66 and keeps an Outperform rating on the shares. The firm expects focus to be on the nature of Sunoco’s EUR 500M European terminal acquisition during its Q1 update, and Mizuho tells investors in a research note that it is interested in whether terminal capacity is meaningfully contracted or not. A higher proportion of contracted capacity would help cash flow visibility, but uncontracted capacity would allow Sunoco to develop its fuel optimization angle, the firm says, adding that it believes Sunoco has “ample” capacity to remain aggressive on M&A.