Oppenheimer Reiterates an 'Outperform' on Tesoro Logistics (TLLP); Outlook From Analyst Day Even Better Than We Thought
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Price: $52.13 --0%
Rating Summary:
11 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
Rating Summary:
11 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
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Oppenheimer reiterates an 'Outperform' on Tesoro Logistics (NYSE: TLLP) price target raised from $30 to $34.50.
Oppenheimer analyst said, "We reiterate our rating and raise our PT after TSO's analyst meeting and the release of TLLP's 2012 business plan. The outlook is even better than we previously believed, with $100M of EBITDA expected in 2013. Both the High Plains system and terminalling are experiencing better than expected growth. We now believe 2012 distribution growth will be 13.5% and that TLLP can grow at 12% annually for the next four years. Mgmt guided to an early 2012 dropdown of the Martinez terminal that will add $8M of annual EBITDA, and we believe there is no need for equity financing for the next several years as the partnership's leverage ratio is so low compared to peers."
For an analyst ratings summary and ratings history on Tesoro Logistics click here. For more ratings news on Tesoro Logistics click here.
Shares of Tesoro Logistics closed at $31.74 yesterday.
Oppenheimer analyst said, "We reiterate our rating and raise our PT after TSO's analyst meeting and the release of TLLP's 2012 business plan. The outlook is even better than we previously believed, with $100M of EBITDA expected in 2013. Both the High Plains system and terminalling are experiencing better than expected growth. We now believe 2012 distribution growth will be 13.5% and that TLLP can grow at 12% annually for the next four years. Mgmt guided to an early 2012 dropdown of the Martinez terminal that will add $8M of annual EBITDA, and we believe there is no need for equity financing for the next several years as the partnership's leverage ratio is so low compared to peers."
For an analyst ratings summary and ratings history on Tesoro Logistics click here. For more ratings news on Tesoro Logistics click here.
Shares of Tesoro Logistics closed at $31.74 yesterday.
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