Wells Fargo Starts Tesoro (TSO) at Outperform
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Price: $57.41 +0.53%
Rating Summary:
16 Buy, 3 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
16 Buy, 3 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade TSO Now!
Wells Fargo initiated coverage on Tesoro Corporation (NYSE: TSO) with an Outperform rating and a $33-$35 valuation range.
The firm said it is confident in "Tesoro’s advantageous exposure to the Mid-Continent light/sweet crude oil differentials and ability to extend that advantage to a portion of its West Coast operations will allow it to enhance its competitive position." Wells Fargo also pointed to the company's management team which "is about halfway through its multiyear plan to improve the operational and financial performance of the company" and the fact that Wall Street has "has not yet given Tesoro full credit for these changes as it generally trades at or below sector averages for earnings, cash flow, and EBITDA."
For an analyst ratings summary and ratings history on Tesoro Corporation click here. For more ratings news on Tesoro Corporation click here.
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The firm said it is confident in "Tesoro’s advantageous exposure to the Mid-Continent light/sweet crude oil differentials and ability to extend that advantage to a portion of its West Coast operations will allow it to enhance its competitive position." Wells Fargo also pointed to the company's management team which "is about halfway through its multiyear plan to improve the operational and financial performance of the company" and the fact that Wall Street has "has not yet given Tesoro full credit for these changes as it generally trades at or below sector averages for earnings, cash flow, and EBITDA."
For an analyst ratings summary and ratings history on Tesoro Corporation click here. For more ratings news on Tesoro Corporation click here.
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