UPDATE: Global Hunter Securities Raises PT on Tesoro Logistics from $30 to $41
Global Hunter Securities reiterated a Buy rating on Tesoro Logistics (NYSE: TLLP) and raised its price target from $39 to $41.
Global Hunter Securities commented, “We consider TLLP to be an ideal defensive pick with 100% of cash flows coming from fee-based contracts with imbedded inflation-based escalators. We believe TLLP will see significant growth in EBITDA, DCFPU and distributions for the remainder of 2012 and 2013, with robust growth more than offsetting the risk of locking in a relatively low current yield.”
Tesoro Logistics closed at $35.77 on Tuesday.
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Tags: Global Hunter Securities