Goldman Sachs Upgrades Sunoco Logistics Partners (SXL) to Buy

Goldman Sachs upgraded Sunoco Logistics Partners (NYSE: SXL) from Sell to Buy with a price target of $58.00 (from $40.00), suggesting 21% upside.

The firm is positive, citing: "1) oil infrastructure growth, with strategic assets placed in the Permian and MidContinent as well as additional proposed growth projects, (2) continued crude oil price volatility and wide basis differentials, which should drive high logistics margins, and (3) growing NGL infrastructure footprint in the Marcellus shale."

For an analyst ratings summary and ratings history on Sunoco Logistics Partners click here. For more ratings news on Sunoco Logistics Partners click here.

Shares of Sunoco Logistics Partners closed at $49.58 yesterday.

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