Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Markets & Finance

Merrill Lynch Sees Sunoco Rising

Merrill Lynch upgraded Sunoco (SUN) shares to near-term accummulate and long-term buy.

Analyst Andrew Fairbanks says the Tosco acquisition validates his view that refiners should be valued at greater than 10 times their forward estimates. He thinks the loss of Tosco as a public equity will create a higher scarcity factor for remaining independent franchises. Fairbanks believes the market is beginning to recognize refiners as unique, valuable enterprises. He says industry fundamentals and refiners' earnings will be very strong through 2001 and 2002. Fairbanks has positive opinions on all refiners under his coverage. He also upgraded Ultramar Diamond Shamrock and Valero Energy.

blog comments powered by Disqus