Benchmark Upgrades Tesoro Corporation (TSO) to Buy; Improved Earnings Outlook

Benchmark upgraded Tesoro Corporation (NYSE: TSO) from Sell to Buy with a price target of $25.00.

Benchmarck analyst says, "Tesoro shares upgraded to BUY from SELL with a $25 fair value target price based upon significantly improved, mid-cycle earnings outlook. Full year 2011, 2012, and mid-cycle earnings estimates raised to $5.86, $5.46, and $4.56 per share, respectively, based upon sustainable Lower 48 light, sweet crude ciscounts and several company specific initiatives. We anticipate a 2012 reinstatement of the Company’s $0.40 per share annual dividend which was suspended in late 2009."

For more ratings news on Tesoro Corporation click here and for the rating history of Tesoro Corporation click here.

Shares of Tesoro Corporation closed at $20.11 yesterday.

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