Market Overview

UPDATE: Bank of America Upgrades Tesoro Petroleum Corporation to Buy on Bakken Benefits

Related TSO
IBM's Report Weighs On The Dow, Apple Helps Boost The Nasdaq, S&P 500 Extends Winning Streak
Tesoro Filing Shows Intent To Sell 19.35M Units
Oil Refiners Tumble, Producers Rally on Export Ruling (Fox Business)

Bank of America upgraded Tesoro Petroleum Corporation (NYSE: TSO) from Neutral to Buy and raised the price target from $51.00 to $66.00.

Bank of America commented, "[W]atching the sequence of events that has evolved over the past few months we believe the strong run that TSO has enjoyed is set to continue: we are adding Tesoro to the Buy list of companies we argue are primary beneficiaries of the next stage of the crude price rebalancing that we expect in the lower 48 – namely the dislocation between LLS and Brent on the US Gulf Coast and now with physical cargoes moving East, the shift in regional Bakken to ‘Brent minus'."

Tesoro Petroleum Corporation closed at $53.77 on Friday.

Latest Ratings for TSO

DateFirmActionFromTo
Oct 2014BarclaysMaintainsOverweight
Oct 2014BarclaysMaintainsOverweight
Oct 2014Deutsche BankInitiates Coverage onBuy

View More Analyst Ratings for TSO
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Upgrades Analyst Ratings

 

Related Articles (TSO)

Around the Web, We're Loving...

Get Benzinga's Newsletters