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Tesoro (TSO) is the only independent refiner Credit Suisse supports, bolstered by its California...
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Wednesday, September 19, 2012, 11:47 AM ETTesoro (TSO) is the only independent refiner Credit Suisse supports, bolstered by its California refinery acquisition, in an environment of reduced Gulf margins in 2013 and lower mid-continental crude spreads. But while the firm hikes TSO's price target to $53 from $50, it cuts ratings for MPC, PSX, DK and WNR.
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HFC and PSX are doing just fine.. the model is not the WTI to Brent spread but the Canadian Oil Sands feed stock to the premium of finished goods which is based on the Brent.. To say the crude spreads between Brent and WTI and Alberta is the error in their assessment and we suggest that this incredible buying opportunity will be with the refiners atleast until 2014... So let's bet say 100 shares of each right now and see where they are at Christmas Easter and next summer (June) HFC is a cash machine right now and TSO investors will be wishing they had spent the money on HFC or PSX!