UPDATE: Credit Suisse Initiates Coverage on Tesoro Logistics (TLLP), $28 Price Target
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Price: $52.13 --0%
Rating Summary:
11 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
11 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Credit Suisse is initiating coverage on shares of Tesoro Logistics (NYSE: TLLP) with an Outperform rating and $28 price target.
The company was made to to be Tesoro Corp's (NYSE: TSO) vehicle to grow its logistics infrastructure business, all of its revenue will be derived from TSO under various long-term, fee-based agreements that include minimum volume commitments.
The firm forecasts that TLLP will receive $200 million in assets from Tesoro from 2012-2015. It all comments that, "TLLP may partner with TSO in the pursuit of third party acquisitions. For example, TSO and TLLP could jointly bid on a refining acquisition with the refinery assets acquired by TSO and logistics assets acquired by the MLP."
For more ratings news on Tesoro Logistics click here and for the rating history of Tesoro Logistics click here.
Shares of Tesoro Logistics closed at $24.49 yesterday.
The company was made to to be Tesoro Corp's (NYSE: TSO) vehicle to grow its logistics infrastructure business, all of its revenue will be derived from TSO under various long-term, fee-based agreements that include minimum volume commitments.
The firm forecasts that TLLP will receive $200 million in assets from Tesoro from 2012-2015. It all comments that, "TLLP may partner with TSO in the pursuit of third party acquisitions. For example, TSO and TLLP could jointly bid on a refining acquisition with the refinery assets acquired by TSO and logistics assets acquired by the MLP."
For more ratings news on Tesoro Logistics click here and for the rating history of Tesoro Logistics click here.
Shares of Tesoro Logistics closed at $24.49 yesterday.
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