Oppenheimer Sees Upside in Shares of Tesoro (TSO)

Tesoro (NYSE: TSO) is benefiting from a number of positive developments, including wide crude differentials, growing exports, and declining mandatory CAPEX, noted a report today from analyst Fadel Gheit of Oppenheimer. He expects these structural changes to underpin an improved industry outlook.

"This, coupled with TSO's successful execution of a business strategy focused on improving operating and capital efficiency, and making accretive acquisitions, has boosted its stock performance in the last 12 months.," said Gheit,

He thinks more upside could be on the horizon, as valuation remains attractive.

Oppenheimer has an Outperform rating on Tesoro Corporation (NYSE: TSO) with a price target of $50.00.

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 $38.21 yesterday.

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