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UPDATE: Credit Suisse Upgrades Tesoro to Outperform on West Coast Crude Advantage

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Credit Suisse raised its rating on Tesoro (NYSE: TSO) from Neutral to Outperform and increased its price target from $53 to $60.

Credit Suisse commented, "TSO shares are on the lowest EV/EBITDA of the group and based on higher EBITDA have above average upside to fair value. It could be a few weeks early to bang the table again on TSO - but West Coast cracks typically start rallying in late Jan/early Feb and the FTC decision should take place before mid-year."

Tesoro closed at $39.99 on Wednesday.

Latest Ratings for TSO

DateFirmActionFromTo
Oct 2016CitigroupMaintainsBuy
Oct 2016Credit SuisseUpgradesNeutralOutperform
Oct 2016BarclaysMaintainsOverweight

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Posted-In: Credit SuisseAnalyst Color Upgrades Intraday Update Analyst Ratings

 

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