SunocoCorp initiated with an Overweight at Barclays

Barclays initiated coverage of SunocoCorp (SUNC) with an Overweight rating and $57 price target The newly acquired Parkland Corporation assets expand Sunoco’s size and scope to position the partnership as a leading, geographically diversified liquids company, the analyst tells investors in a research note. However, the firm says the company’s exposure to refining could introduce additional earnings volatility.