BofA Merrill resumes coverage of SunCoke Energy (SXC) at Underperform following the spinoff...

|About: SunCoke Energy (SXC)|By:, SA News Editor

BofA Merrill resumes coverage of SunCoke Energy (SXC) at Underperform following the spinoff of Suncoke Partners (SXCP), believing the parent's divestiture of its best assets will leave it increasingly exposed to riskier coal assets and uncertain organic growth and international expansion. The firm launches coverage of the MLP with a Buy rating, estimating dropdowns can drive 6%-7% annual distribution growth.