UPDATE: Benchmark Upgrades Tesoro Coporation from Sell to Buy

Benchmark has published a research report on Tesoro Corporation (NYSE: TSO) upgrading the stock.

In the report, Benchmark wrote, "Risks to favorable share performance include the implications of anticipated declines in industry-wide refining margins and of a pending lawsuit, alleging negligence, associated with the April 2010 fire at the Anacortes refinery, both of which appear to be at least partially discounted in the current share price."

Benchmark upgraded Tesoro from Sell to BUY with a price target of $25.00. Tesoro closed Monday at $19.86.