Sunoco Logistics (SXL +4.2%) is initiated at Outperform with a $53 target by Robert W. Baird, which says SXL could be used as an acquiring entity once it joins the Energy Transfer family. The firm expects the acquirer to boost distributions to increase partnership cash flow and drive unitholder value. Also started at Outperform: ETE, PAA. Started at Neutral: ETP, PNG, OKS.
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