UPDATE: UBS Upgrades Tesoro Corporation (TSO) to Buy; Several Near and Mid-Term Catalysts
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Price: $63.28 -2.5%
Rating Summary:
16 Buy, 3 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
16 Buy, 3 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade TSO Now!
(Updated - June 1, 2012 10:46 AM EDT)
UBS upgraded Tesoro Corporation (NYSE: TSO) from Neutral to Buy. PT raised from $30 to $33.
Analyst, Craig Weiland, said, "TSO has underperformed refiner peers by 25% YTD due to a challenging California refining environment in 1Q & a dearth of 1H12 catalysts. However, West Coast refining margins have recovered during 2Q on the back of lower PADD 5 refinery utilization rates & tightening product inventories. Couple this with potential asset monetizations in 2H12-early ’13, & TSO’s FCF yield could improve to 26%. We estimate these factors will provide for shareholder friendly actions such as the reinstitution of a recurring dividend & share buybacks in 2013."
UBS raises FY12 EPS estimate from $4.51 to $4.61 and FY13 from $3.44 to $3.45.
For an analyst ratings summary and ratings history on Tesoro Corporation click here. For more ratings news on Tesoro Corporation click here.
Shares of Tesoro Corporation closed at $22.12 yesterday, with a 52 week range of $17.43-$30.15.
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UBS upgraded Tesoro Corporation (NYSE: TSO) from Neutral to Buy. PT raised from $30 to $33.
Analyst, Craig Weiland, said, "TSO has underperformed refiner peers by 25% YTD due to a challenging California refining environment in 1Q & a dearth of 1H12 catalysts. However, West Coast refining margins have recovered during 2Q on the back of lower PADD 5 refinery utilization rates & tightening product inventories. Couple this with potential asset monetizations in 2H12-early ’13, & TSO’s FCF yield could improve to 26%. We estimate these factors will provide for shareholder friendly actions such as the reinstitution of a recurring dividend & share buybacks in 2013."
UBS raises FY12 EPS estimate from $4.51 to $4.61 and FY13 from $3.44 to $3.45.
For an analyst ratings summary and ratings history on Tesoro Corporation click here. For more ratings news on Tesoro Corporation click here.
Shares of Tesoro Corporation closed at $22.12 yesterday, with a 52 week range of $17.43-$30.15.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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