Bank of America resumed coverage on SunCoke Energy SXC with an Underperform rating and announced a $17.00 price objective.
Bank of America commented, "We reinstate coverage of metallurgical coke producer SunCoke (SXC) at Underperform following the spinoff of SunCoke Partners LP (SXCP), a Master Limited Partnership (MLP) containing 65% of SXC's two best performing assets. While we are positive on the MLP and SXC's continued exposure to it, we think the parent's divestiture of its best assets over time leaves it increasingly exposed to riskier coal assets and uncertain organic growth and international expansion."
SunCoke Energy closed at $17.45 on Monday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in