Barclays resumes Sunoco Corp's coverage with 'overweight'

Barclays resumes coverage on fuel distributor Sunoco Corp SUN.N with 'overweight' rating; sets PT at $57, reflecting about 8.6% upside on stock's last close

Brokerage says SUN is enhancing downstream scale and efficiency through strategic asset integration, making SUN larger and more diversified company, especially in fuels and chemicals sector

Sunoco Corp had completed acquisition of Parkland Corporation in early November

Barclays expects acquisition to also bring new risks, especially from refining side, which could make SUN's earnings more volatile

Shares of SUN up 1.89% at $53.49 premarket on low volumes

All seven brokerages rate stock "buy" or higher; median PT is $65 - data compiled by LSEG

As of last close, SUN stock up ~2% YTD